Advanced Micro Devices reports 38% revenue growth to $10.25 billion, fueled by 57% jump in data center segment amid $700 billion AI spending surge.
Advanced Micro Devices (NASDAQ: AMD) shares have climbed over 300% in the past year, driven by surging demand for AI hardware. The company’s first-quarter revenue rose 38% year over year to $10.25 billion, with its data center segment jumping 57% to $5.8 billion.
AI adoption has accelerated spending on data centers, where AMD’s EPYC processors and AI accelerator chips play a critical role. Industry leaders, including Amazon CEO Andy Jassy, have called AI a “once-in-a-generation” opportunity, with total spending projected to reach $700 billion this year.
Tight supply and high demand for AI infrastructure have bolstered AMD’s operational performance, though questions remain about the sustainability of its rally.