AMD stock slides about 16% in post-midterm chip rout

AMD shares dropped sharply on Thursday, November 5, 2026, as a broad sell-off hit AI and semiconductor names. Investors worried that a Democratic-led Congress could slow data center construction, which is the main demand engine behind AMD's growth. The decline was among the steepest in the group, and it erased a large part of the gains the stock had made earlier in the year. AMD's chief executive, Lisa Su, said the market can be short-sighted about AI spending and that she still sees strong long-term demand.

1. AMD fell roughly 16% to 17% intraday on Thursday, November 5, 2026, according to Benzinga Pro data reported by Benzinga.
2. A Forbes report on November 5, 2026 said investors feared a Democratic-controlled Congress would slow the data center buildout; AMD was down about 14.5% midday.
3. Benzinga reported that the Philadelphia Semiconductor Index slumped about 10% that day and that the Nasdaq 100 had its largest one-day drop since 2020.
4. Benzinga reported AMD closed Thursday roughly 38% below its October peak, and that AMD was one of the largest holdings in the SOXX chip ETF.
5. Lisa Su told Yahoo Finance the market can be short-sighted and said the company's long-term demand view is unchanged.
6. Benzinga had AMD closing near $411 on Thursday after $488.78 the prior day, per its technical-level report.