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Advanced Micro Devices, Inc. (AMD.US) Shares Jump Over 16% After Hours; 2Q Server CPU Revenue Seen Rising Over 70% YoY
Advanced Micro Devices, Inc. (AMD.US) reported 1Q results that beat market expectations, benefiting from accelerated investment in AI infrastructure by cloud computing companies, w...
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Advanced Micro Devices, Inc. (AMD.US) Shares Jump Over 16% After Hours; 2Q Server CPU Revenue Seen Rising Over 70% YoY
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Advanced Micro Devices, Inc. (AMD.US)      reported 1Q results that beat market expectations, benefiting from accelerated investment in AI infrastructure by cloud computing companies, which drove robust chip demand. Shares of Advanced Micro Devices, Inc. surged 16.5% in after-hours trading to USD414.

The company expects 2Q revenue of approximately USD11.2 billion, plus or minus USD0.3 billion, above the prior estimate of USD10.52 billion. Server CPU revenue is projected to grow more than 70% YoY. Adjusted gross margin is expected to be about 56%, higher than analysts' forecast of 55.4%.

Related NewsIndustrial Production YoY for Apr in the United States is 1.4%, higher than the previous value of 0.7%.
Chief Executive Officer Lisa Su said on a conference call that Advanced Micro Devices, Inc. now expects the server CPU market to expand at an annual rate of more than 35%, exceeding USD120 billion by 2030, above the companys November forecast of 18%. She also expressed strong confidence that the company will generate tens of billions of US dollars in data center AI revenue next year and achieve a long-term growth target of over 80% in the coming years.

Meta said in February that it had reached a multi-year agreement with Advanced Micro Devices, Inc. to deploy GPUs for AI data centers. Lisa Su said shipments are expected to begin in 2HYY, and together with the previously announced partnership with OpenAI, these collaborations will position Advanced Micro Devices, Inc. as a core partner for some of the worlds largest AI infrastructure centers. (mn/u)(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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