• AMD stock fell today as investors learned that tariffs on China are now at 145% -- above the 125% level mentioned by President Trump yesterday.

• Investors are also looking at geopolitical risks beyond trade war concerns.

• AMD announced today that it will host an event to unveil new AI products in June.

Advanced Micro Devices (AMD) stock saw a day of big sell-offs Thursday. The semiconductor company's share price wound up down 8.4% in a day of trading that saw the S&P 500 fall 3.5% and the Nasdaq Composite fall 4.4%.

The stock market followed Wednesday's surge on tariff news with substantial sell-offs today as more information about import taxes on China came into focus. While President Donald Trump had stated that tariffs on the country would rise from 104% to 125% in a message posted yesterday, it turns out the new effective import tax rate on Chinese products is actually now at 145%.

AMD stock falls on macroeconomic and geopolitical risks

AMD stock saw huge gains in yesterday's trading after Trump announced a 90-day pause on tariffs for countries other than China, but it experienced valuation retracement today after the White House stated that the 125% tariff rate on Chinese goods cited by the president was actually in addition to an existing import tax of 20% on products from the country.

In addition to the trade war concerns, investors are also weighing the possibility that worsening relations between the two competing world powers could be the lead-up to a potential Chinese invasion of Taiwan. Like most leading semiconductor companies, AMD relies on Taiwan Semiconductor Manufacturing to produce its chip designs and could face serious disruptions if that were to occur.

What's next for AMD?

AMD announced today that its Advancing AI 2025 conference will take place on June 12. The event should give investors a deeper look into the company's artificial intelligence (AI) strategy and product pipeline, including its next-generation Instinct graphics processing units (GPUs) and software platform. AMD hasn't been able to gain much ground against Nvidia in the AI processor space thus far, but it's possible the company will have some significant news at the upcoming event.