December 7, 2009 / 5:21 PM / 10 years ago

AMD, Nvidia shares rise as Intel scraps graphic chip

SAN FRANCISCO (Reuters) - Shares of Nvidia Corp (NVDA.O) and Advance Micro Devices Inc AMD.N surged on Monday following news that Intel Corp (INTC.O) has scrapped plans for a competing technology.

Nvidia and AMD’s ATI graphics unit dominate the advanced, or discrete, graphics chip market that typically serves computer gamers and video editors, among others.

Intel said on Sunday that it has scrapped plans to launch an advanced graphics chip based on its novel Larrabee design because silicon and software development were behind where the company hoped to be at this point.

Intel currently makes lower-powered or integrated graphics chips used in many modern computers. Larrabee was different in that it would offer more advanced graphics capabilities derived from technology used in Intel’s microprocessors.

Intel now plans a Larrabee product to be used as a software development platform for graphic and high-performance computing, Intel spokesman Nick Knupffer said on Sunday.

Shares of AMD rose 7.9 percent to $8.5 on the New York Stock Exchange while Nvidia rocketed nearly 14 percent to $16.25 on the Nasdaq, and Intel fell 0.5 percent to $20.35. (Reporting by Ian Sherr; Editing by Steve Orlofsky)

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