AMD Pares Stock Decline as CEO Vows to Wring More Sales From AI
- Company follows Intel in giving downbeat revenue outlook
- Push into Nvidia-style processors is still in early days
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Advanced Micro Devices Inc. shares pared losses Wednesday after optimism about new artificial intelligence processors helped investors look past a downbeat forecast for the first quarter.
Though revenue in the current period will be well short of analysts’ estimates, the company expects to get more than $3.5 billion this year from a line of so-called AI accelerators that was unveiled last month, up from an earlier projection of $2 billion. Such chips help companies develop AI models by bombarding them with data, and they’re in high demand.