The GraniteShares 2x Long AMD Daily ETF (AMDL) closed up 2.69% at $8.40 on December 24, 2024, as Advanced Micro Devices (AMD) shares rose 1.36% to $126.29, driven by strategic investments and bullish market sentiment. AMD's recent acquisition of a stake in Elon Musk's xAI has positioned the company favorably in the AI sector, sparking investor interest. Additionally, AMD's stock surged 5.7% earlier in the day, fueled by optimistic analyst coverage and anticipation of new product launches, including the Ryzen 9 9950X3D and RDNA 4 GPUs. These developments highlight AMD's growth potential in the CPU and GPU markets, with analysts projecting a significant upside.