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AMD beats estimates as data center revenue nearly doubles on AI chip demand

By ChordNews · First written (updated )

AMD beats estimates on near-doubling of data center revenues
Image: semafor.com
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Summary

AMD reported better-than-expected third-quarter results, driven by booming sales of its AI chips. CNBC reports that data center revenue nearly doubled and that CEO Lisa Su expects growth to accelerate, and that the stock jumped 8% on the earnings. Semafor reports that the results beat Wall Street estimates on record demand for the company's AI chips, lifting one of the year's best-performing tech stocks after the market closed. Investing.com reports that AMD's forecast eased fears about AI spending as data-center sales surged, with a quarterly revenue forecast above estimates. A later Investing.com report says AMD shares jumped as AI-driven data-center strength fueled its growth outlook.

Later: Legrand shares rise as UBS sees data centre growth accelerating · Oppenheimer raises AMD to Outperform, sees data center sales more than doubling

Timeline

  1. Semafor

    Source ↗

    Semafor reports that AMD's third-quarter earnings beat Wall Street estimates on record demand for its AI chips, boosting one of the year's best-performing tech stocks after market close.

  2. Investing.com

    Source ↗

    Investing.com reports that AMD's forecast eased fears about AI spending as data-center sales surged, and that its quarterly revenue forecast is above estimates.

  3. Investing.com

    Source ↗

    Investing.com reports that AMD shares jumped as AI-driven data-center strength fueled its growth outlook.

  4. CNBC

    Source ↗

    CNBC reports that AMD posted better-than-expected third-quarter results driven by booming AI chip sales, with data center revenue nearly doubling and the stock jumping 8% on the earnings.

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