AMD’s second-quarter revenue rose 50% to $11.54 billion, exceeding forecasts, but investor sentiment soured on AI stock volatility.
Advanced Micro Devices Inc. saw its shares fall 8.2% in premarket trading Wednesday despite reporting second-quarter revenue of $11.54 billion, a 50% year-over-year increase that surpassed analyst expectations of $11.28 billion. Data center sales surged 107% to $6.7 billion, driven by strong demand for AI-related chips.
The results came in slightly above consensus but fell short of more optimistic projections, according to analysts. AMD has been a key beneficiary of the AI boom, with its stock up 132% this year, though recent volatility has weighed on investor confidence.
CEO Lisa Su highlighted the company’s leadership in AI-driven compute demand, projecting substantial growth ahead. AMD recently raised its semiconductor industry forecast to $2 trillion annually by 2028.