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Shares of Advanced Micro Devices Inc.
AMD + 6.59%
are up more than 5% in pre-market trading Monday after the announcement by the company of a multi-year strategic partnership with Samsung Electronics Co. Ltd.
005930, + 3.06%
As part of this partnership, focused on high-performance, low-power mobile graphics, Samsung will license AMD's intellectual property in the graphics domain, with a view to improving mobile applications and smartphones. AMD will receive license fees and royalties as a result of this agreement. The stock has increased 48% since the beginning of the year, while the S & P 500
SPX, -0.10%
gained 10%.
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