AMD doubles data-centre revenue as AI chip demand boosts forecast

Advanced Micro Devices forecast fourth-quarter revenue above Wall Street estimates on Tuesday, with record data-centre revenue driven by strong AI chip demand, sending its shares up 9.1 per cent in extended trading. Third-quarter revenue rose 45 per cent to $13.38bn, beating estimates, while data-centre revenue jumped 97 per cent to a record $8.55bn. The company expects fourth-quarter revenue of about $17bn, above the $16.23bn analysts predicted, as it challenges Nvidia’s AI chip dominance. AMD’s upbeat outlook eased investor concerns over AI buildout costs following Intel’s weak forecast. Its premium Helios system is in production and being tested at Meta Platforms, which agreed in February to buy up to $60bn worth of AI chips over five years.