Advanced Micro Devices‘ CEO Lisa Su shut down concerns over Big Tech’s elevated spending during an interview with CNBC’s “Squawk Box” on Wednesday and said investing in more computing will accelerate the pace of innovation.

“I don’t think it’s a big gamble,” she said. “I think it’s the right gamble.”

Many of AMD’s hyperscaler customers over the last 12 months have beefed up spending as the technology reaches an “inflection point” and companies can see the return on that spending, Su added.

Su’s comments come as tech’s megacaps announced more than $380 billion in AI spending in their latest earnings reports as the firms race to build out infrastructure to support soaring demand.

On Tuesday, Su told analysts that AMD expects revenues to grow 35% per year over the next three to five years due to “insatiable” AI chip demand.

Shares were last up more than 7%.

Concerns of a potential AI bubble have jolted markets in recent sessions as Wall Street raises concerns that valuations have gotten too high.

Coinbase is following Tesla out of Delaware and into Texas.

Paul Grewal, Coinbase’s chief legal officer, wrote in a Wall Street Journal op-ed on Wednesday that the crypto exchange is moving its state of incorporation, a year after Elon Musk did the same with his electric vehicle maker. Musk also reincorporated his rocket maker SpaceX from Delaware to Texas.

“Delaware’s legal framework once provided companies with consistency. But no more,” Grawal wrote, pointing to recent “unpredictable outcomes” in the Delaware Chancery Court.

A handful of notable names, including Dropbox, TripAdvisor and venture firm Andreessen Horowitz have announced departures from Delaware. It’s a move that was championed by Musk following a Delaware Chancery Court ruling that ordered Tesla to rescind the CEO’s 2018 pay package, worth about $56 billion in options.

“If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible,” Musk wrote in a post on X in February 2024, when he filed to change SpaceX’s incorporation state.

Last week, Tesla shareholders voted to approve Musk’s more recent pay package, which could be worth up to $1 trillion.

Delaware has long been the dominant state for U.S. companies to incorporate due to its flexible corporate code and expert judiciary, and is seen as balancing the rights of executives and shareholders. A Texas state law allows corporations to limit shareholder lawsuits against insiders for breach of fiduciary duty. 

Coinbase and Andreessen Horowitz, an early backer, currently face a lawsuit in Delaware concerning the sale of shares in the crypto company tied to its public listing in 2021.

Like Musk, Coinbase CEO Brian Armstrong was a major contributor to President Donald Trump’s 2024 campaign for the White House.

— CNBC’s Lora Kolodny contributed to this report.

WATCH: Delaware Gov. Matt Meyer says laws didn’t change as a result of Musk

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Here are five key things investors need to know to start the trading day:

As CNBC’s Jeff Cox reports, government agencies will need time to catch up on data collection. If the shutdown ends this week, Goldman Sachs estimated that the BLS could have a schedule for when it would release reports — but not the data itself — out early next week.

Market watchers are especially eager to see what job market data will say, as other data sources point to loosening in the labor force. Adding to the uncertainty is the rise of “ghost job” postings, a term used to describe listings for open roles that have never appeared to be filled.

President Donald Trump floated a tariff rebate check over the weekend. Experts are warning you shouldn’t hold your breath.

Policy analysts and economists told CNBC’s Jessica Dickler that Trump’s idea of paying Americans a “dividend” of at least $2,000 — except for “high income people” — likely wouldn’t happen anytime soon. They also warned that this type of economic stimulus could drive up inflation.

Speaking of tariffs, CNBC’s Lori Ann LaRocco reported that U.S. importers are expecting a simple repayment process if the Supreme Court rules against Trump’s levies and forces a refund.

Here are our biggest takeaways from the draft.

On, the Swiss sportswear company, isn’t seeing the same slowdown as other shoe makers. The company reported better-than-expected earnings and raised its guidance this morning, saying it wouldn’t need to offer Black Friday deals to juice demand. Shares of On surged nearly 9% in premarket trading.

Elsewhere in fitness, Oura CEO Tom Hale told CNBC in an exclusive interview that the smart ring maker could see $2 billion in sales in 2026, almost doubling sales for a second straight year. Oura raised $900 million in a funding round last month, bringing its value to $11 billion. But public market investors shouldn’t get too excited: Hale said there’s “no news on an IPO” for the Finnish company.

Consumer sentiment varies significantly by the amount of stocks individuals hold. Click here to read more about how the biggest owners are buoying economic confidence, and what could change that.

— CNBC’s Sean Conlon, Kif Leswing, Ashley Capoot, Jordan Novet, Yun Li, Jeff Cox, Jessica Dickler, Lori Ann LaRocco, Liz Napolitano, Gabrielle Fonrouge, Tasmin Lockwood and Arjun Kharpal contributed to this report. Josephine Rozzelle edited this edition.