Why did AMD stock go down today? AI euphoria is fading fast

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AMD (NASDAQ:AMD) shares fell sharply on Thursday, ending the session down more than 7% as the euphoria surrounding Nvidia (NVDA) and its strong second-quarter results and guidance faded. More than 100M shares of AMD (AMD) changed hands on Thursday, compared to the average daily volume of 68M. Nvidia (NVDA) shares touched a new 52-week high in pre-market trading session, but finished up just 0.1%, well off the best levels of the session. A number of analysts praised the company's results and guidance, with some calling the outlook a "guidance for the ages." In addition to the strong results and outlook, Nvidia (NVDA) approved an additional $25B share buy back program, adding that it would continue to repurchase stock this fiscal year.