Advanced Micro Devices shares dropped 5.6% in morning trading Thursday, extending losses from the previous session as inflation data and concerns about AI infrastructure spending pressured the chipmaker.

The stock opened at $540.93 and fell to a session low of $530.09. The decline follows Wednesday's selloff triggered by September consumer price data that showed headline CPI rose 3.7% year-over-year, above the 3.6% forecast. The stronger-than-expected inflation reading increased expectations that the Federal Reserve may tighten policy further.

CoreWeave's corporate bond prices collapsed Wednesday, with yields climbing above 15% to levels associated with distressed debt. The drop raised questions about funding for AI infrastructure buildout, a concern that affects chip suppliers including AMD. The selling pressure from CoreWeave's bond market troubles extended into Thursday's trading.

AMD also registered a Form 4 insider filing Thursday, though the filing contained limited details.