Shares of Advanced Micro Devices, Inc. (AMD) closed Wednesday's session at $552.90, a gain of 7.32%, and extended the advance in pre-market trading on Thursday, changing hands at $561.30, up another 1.52%. The move followed the announcement of an expanded partnership between AMD and PsiQuantum under which the two companies will co-design computing infrastructure for utility-scale quantum computers. According to the press release, AMD also intends to make an equity investment in PsiQuantum.

PsiQuantum announced the expanded partnership in a post on X on November 12, 2026:

Today, PsiQuantum and @AMD are announcing a strategic partnership to co-design and develop the technologies underpinning the future of computing. By bringing together our teams and technologies, PsiQuantum and AMD will help advance the hybrid applications that combine quantum,… pic.twitter.com/eUYgKb4lx1

— PsiQuantum (@PsiQuantum) November 12, 2026 (post on X)

Beyond core quantum systems, the plan covers hybrid setups that mix quantum, high-performance and AI computing — applications the companies say the partnership will help advance.

What the deal covers

The expanded partnership spans several layers of the computing stack. The two companies are not new partners: they already work together on AMD's Versal FPGA technology. The expanded agreement broadens that collaboration, adding AMD Instinct GPUs, EPYC CPUs and the ROCm software stack. All of these components will be tied into PsiQuantum's silicon photonics platform. The planned equity investment, if completed, would make AMD a shareholder in PsiQuantum as well as its technology partner — a dual role that goes beyond a conventional component-supplier relationship.

PsiQuantum, founded in 2016 and based in Palo Alto, California, builds fault-tolerant quantum computers using a photonic approach — one that leans on established semiconductor manufacturing methods. Photonic hardware is one of several competing paths in quantum computing, alongside superconducting and trapped-ion systems, and PsiQuantum's reliance on mainstream chipmaking processes is central to its argument that the technology can scale to utility size. The full-stack pairing also reflects how fault-tolerant quantum systems are expected to operate in practice: as part of hybrid data-center environments in which classical processors manage workloads around the quantum core, including the real-time error correction that fault-tolerant operation requires. AMD CTO Mark Papermaster pointed to the company's track record of pairing its compute technology with engineering partners.

Drug discovery is the first target

The first target application for the partnership is drug discovery, which lines up with the U.S. Department of Energy's Quantum Genesis Priority Applications. The choice fits a broader pattern in the field: simulating molecular behavior is among the most computationally demanding problems in classical computing, and one of the most widely cited applications for error-corrected quantum machines. PsiQuantum's computational chemistry methods already run on AMD hardware, and researchers are tuning a machine-learning decoder called PRISM for use in real-time error correction.

The companies reported early results from simulations of covalent inhibitors, a class of molecules that plays an important role in oncology drug discovery. PsiQuantum also plans to explore integrated computing tools for pharmaceutical research. Both firms may widen their collaboration at the Illinois Quantum and Microelectronics Park in Chicago, where PsiQuantum serves as the anchor tenant.

AMD's numbers heading into the news

The partnership announcement came on the heels of AMD's third-quarter earnings report, released Nov. 3. Earnings came in at $2.09 per share, ahead of the $1.95 analysts had expected. Revenue hit $13.38 billion against a $13.10 billion forecast, an increase of 44.7% from a year earlier.

The stock carries a market value of about $906.81 billion, and its 52-week range runs from $188.22 to $658.52. Analysts collectively rate the stock "Moderate Buy," with an average price target of $642.47. Citigroup lifted its target from $575 to $800 on Oct. 6.

Insiders sold 230,957 shares of the company's stock last quarter, transactions worth about $114.8 million in total, and insiders own 0.50% of the company. Separately, Google picked AMD's fifth-generation EPYC processors for its TPU 8tx system.

For now, the concrete next step sits on the calendar: AMD and PsiQuantum plan to release additional details about the expanded partnership at SC26, a supercomputing conference taking place in Chicago from Nov. 15 to 20.

This article was originally published on Blockonomi on Nov. 12, 2026, under the title "AMD Stock Takes Quantum Leap With PsiQuantum Investment Plan."