AMD beats estimates on near-doubling of data center revenues
The semiconductor giant’s third-quarter earnings beat Wall Street estimates on record demand for its AI chips, boosting one of the year’s best-performing tech stocks after market close.
AMD reported strong third-quarter earnings on Tuesday, surpassing Wall Street estimates due to a near-doubling of data center revenue. The US company's robust figures have contributed to one of the best-performing tech stocks of the year, following a tumultuous period for AI-related investments. The surge in demand for AMD's AI chips has boosted investor confidence, with portfolio managers highlighting the significance of both the earnings beat and the company's outlook.
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