Reported 3 months ago
AMD shares surged following a robust sales forecast driven by strong demand for its new AI processors, specifically the MI300 series. The company expects to generate over $4.5 billion from these products this year, exceeding previous estimates. AMD's second-quarter revenue rose to $5.84 billion, surpassing analysts' expectations, highlighting its growing competitiveness against Nvidia in the AI accelerator market. Despite some struggles in other product lines, overall momentum in AI investment remains strong according to CEO Lisa Su.
Source: YAHOO