Updated

Former Intel CEO Pat Gelsinger has backed a $100 million initiative challenging Nvidia's dominance in AI networking technology, a move seen as potentially benefiting AMD as an alternative supplier. Separately, Intel is reportedly exploring a fresh valuation for its Altera unit, with AMD again cited as a key rival to watch in that space. In related AI infrastructure trading, shares of optical component maker Lumentum jumped nearly 10% while peer Corning barely moved, prompting questions about whether the AI optics trade is fragmenting as investors differentiate between suppliers' exposure to next-generation data-center buildouts.