AMD forecasts quarterly revenue above expectations on AI chip demand
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- AMD forecast second-quarter revenue above Wall Street expectations, driven by strong demand for data-center chips.
- Shares jumped 12% in extended trading, adding to a 65% gain this year.
- AMD expects the server CPU addressable market to grow over 35% annually, reaching over $120 billion by 2030.
- Data center segment revenue surged 57% to $5.8 billion in Q1.
- Competition with Intel is increasing as Intel ramps up in-house chip manufacturing.
- AMD has struck deals with Meta and OpenAI for chip sales.