Advanced Micro Devices Inc. (AMD) confirmed that a recent cyberattack by a group called Intelbroker did not compromise any critical business information. The intrusion only obtained a limited amount of information related to the assembling of certain AMD products from a third-party vendor’s site. AMD reassured that this data breach would not have a significant impact on its business or operations.
AMD, based in Santa Clara, is a fierce competitor of Nvidia Corp. in the development of advanced AI chips, making its technological expertise and proprietary information highly valuable targets. Despite this recent cyberattack, AMD’s stock has seen a 30% rise over the past year, making it an attractive investment option for investors through various ETFs.
In response to claims made by a cybercriminal organization of stealing data from AMD, the company is closely working with authorities and a third-party hosting partner to investigate the situation. However, based on its latest statement, AMD seems confident that it can effectively mitigate any potential adverse effects of the cyberattack.
Following the announcement of the cyberattack, AMD’s shares closed down by 2.38% on Wednesday at $154.63. This situation highlights the ongoing threat of cybersecurity breaches faced by technology companies like AMD and the importance of implementing robust security measures to safeguard sensitive information.
Overall, while the cyberattack did manage to access some information related to AMD’s product specifications, the company remains resilient in its response and is confident in its ability to protect its vital business data. Despite the temporary impact on its stock price, AMD’s long-term growth prospects and technological advancements continue to position it as a key player in the competitive semiconductor industry.
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https://www.benzinga.com/news/24/06/39404946/nvidia-rival-amd-downplays-cyberattack-says-no-material-impact-on-business-limited-amount-of-informa