AMD Rallies After Predicting Accelerating AI Sales Growth
The Advanced Micro Devices headquarters in Santa Clara, California.
Photographer: David Paul Morris/BloombergAdvanced Micro Devices Inc. shares rallied 9% after the chipmaker predicted accelerating sales growth over the next five years, driven by strong demand for its data center products.
Annual revenue growth will average more than 35% over the next three to five years, Chief Executive Officer Lisa Su said Tuesday at a company event in New York. AMD’s AI data center revenue will increase by an average of 80% over the same period, she said.