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AMD shares explode on booming data center business
Advanced Micro Devices shares soared 20% premarket on Wednesday following Tuesday's blowout earnings report. Fueled by a 57% increase in its data center business, the chipmaker nearly doubled its net income from last year, while revenue climbed 38% to $10.25 billion. The demands of artificial intelligence continue to buoy the entire sector, and AMD CEO Lisa Su called data centers the "primary driver of our revenue and earnings growth." The company anticipates $11.2 billion in revenue for the next quarter, with its Helios rack-scale systems due later this year.
AMD Delivers Strong Quarter as Focus Shifts to AI Systems Q1 earnings highlight growth, but attention turns to future AI infrastructure AMD reported an impressive first quarter, exceeding expectations on both revenue and earnings. The company posted $10.25...
