AMD rallies as cryptocurrency miners snap up graphics chips

June 6, 2017 By Noel Randewich SAN FRANCISCO (Reuters) – Shares of Advanced Micro Devices surged nearly 9 percent on Tuesday boosted by strong demand for its chips from cryptocurrency miners, leaving short sellers at a loss for the year. A rally in cryptocurrency Ethereum has boosted demand for graphics chips used by people to “mine” it and other digital currencies, with some of AMD’s processors sold out on Amazon.com and other retail websites. Mining for cryptocurrency involves using networks of computers to validate transactions and prevent counterfeit by solving…

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