The GraniteShares 2x Long AMD Daily ETF (AMDL) closed down 1.47% to $6.70 on January 28, as Advanced Micro Devices (AMD) faced a challenging trading session, declining 0.83% to $114.06. The semiconductor sector is grappling with competitive pressures, particularly from Nvidia, which is increasingly targeting AMD's x86 server and PC markets with its Arm-based CPUs. This competitive landscape is further complicated by the emergence of DeepSeek's AI model, which has raised concerns about the demand for high-performance chips. Analysts have downgraded AMD, citing long-term risks from Nvidia's expanding presence and the potential cannibalization of AMD's market share. Additionally, AMD's stock hit a 52-week low, reflecting broader market volatility and investor caution ahead of its upcoming earnings report.