AMD, Nvidia Shares Jump After Musk Highlights xAI's GPU Needs: 'We Expect To Still Buy A Lot'

Shares of Advanced Micro Devices and NVIDIA ticked higher Tuesday after-hours following comments from Tesla CEO Elon Musk, who said the company expects to purchase “a lot” of GPUs from both chipmakers. In an interview with CNBC’s Closing Bell: Overtime, Musk said Tesla’s future includes millions of autonomous robotaxis and Optimus bots, and confirmed ongoing GPU purchases from Nvidia and AMD. Musk also revealed that his AI company, xAI, already runs a 200,000-GPU training cluster in Memphis. He said a second facility is under construction with one million Nvidia Blackwell GPUs, which he called the world’s first gigawatt-class training cluster. He believes his vision could materialize in less than five years.