Intel stole AMD's head of graphics to start its own graphics division — and Nvidia and AMD shares are falling (INTC, AMD, NVDA)

16:21 - 09 November 2017

Nvidia and AMD fell after the news that Intel would be starting its own GPU unit with AMD's former head of graphics.

The move was a clear signal from Intel that it's now placing a real emphasis on graphics.
AMD and

Raja Koduri will be joining Intel as the company's head of the newly formed Core and Visual Computing Group, the position he left at AMD to pursue, Intel announced.

The move is a clear signal from Intel that it wants to ramp up its offerings in the high-end GPU space which has been dominated by the likes of AMD and Nvidia. Intel currently bakes some graphics processing into its CPUs, but those processors lack the power needed to run high-end games or artificial intelligence systems.

Shares of AMD fell 4.1% to $11.23 and shares of Nvidia fell 2.5% to $203.94 after the news. Intel also was down after the news, falling 0.94% to $46.26.