Shares in chipmaker AMD rose about 7 per cent in after-hours trading on Tuesday after its third-quarter results beat Wall Street forecasts, CNBC reports. Revenue rose 45 per cent from a year earlier to $13.38bn, ahead of the $13.09bn expected, and adjusted earnings were $2.09 a share against forecasts of $1.95.
Sales in the data centre division nearly doubled and now make up 64 per cent of the company's revenue, up from 47 per cent a year ago. Chief executive Lisa Su said she expected growth in data centre processors to accelerate further. AMD's server chips have benefited from demand for agentic AI applications, which run for long periods on virtual machines. The results follow strong data centre figures from rival Intel, whose shares nonetheless slumped on weak guidance. AMD's shares have risen about 125 per cent this year.
Source: CNBC