Bulls on Parade: Tesla (NASDAQ:TSLA) Turns to AMD (NASDAQ:AMD) for Autonomous Driving Chip

Shares of the Sunnyvale California chip maker Advanced Micro Devices (NASDAQ:AMD) surged up 11% in today's after market session when a report that it is working with Tesla, Inc. (NASDAQ:TSLA) surfaced.

According to the report. Tesla, Inc. is basing its autonomous driving chip off certain intellectual property owned by AMD. The development comes as no surprise with Tesla's push to become less dependent on other companies.