On October 2, GraniteShares 2x Long AMD Daily ETF rose 8.59% in regular trading, trading at $85.87/share, with turnover of $77.19 million. The leveraged ETF, which tracks AMD at twice daily exposure, surged as AMD's blockbuster acquisition announcement continued to fuel bullish momentum.

On the news front, AMD announced on September 28 a definitive agreement to acquire World Labs, an AI startup co-founded by AI pioneer Fei-Fei Li, in an all-stock deal valued at approximately $8.2 billion. Upon completion, Li will join AMD as Executive Vice President and Chief Scientist, reporting directly to CEO Lisa Su. World Labs specializes in spatial intelligence and 3D environment simulation, positioning AMD to internalize advanced model research capabilities and compete directly with NVIDIA in robotics, simulation, and physical AI domains.

The transaction represents AMD's second-largest acquisition in history. Rosenblatt maintained a Buy rating on AMD, noting the deal would strengthen AMD's AI software and systems capabilities. The deal is expected to close by year-end, subject to regulatory approvals. AMD's data center revenue reached $5.8 billion in Q1, up 57% year-over-year, underscoring its accelerating AI infrastructure momentum.

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