AMD, which is second in the market for AI graphics processing units, is grappling with chip export controls.
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Advanced Micro Devices
reported quarter earnings on Tuesday that missed estimates. The stock slid about 4% in extended trading.
Here’s how the chipmaker did versus LSEG expectations for the quarter ended June:
For the current quarter, AMD expects sales of $8.7 billion, plus or minus $300 million, versus expectations of earnings of $8.3 billion.
AMD's first-quarter forecast fell short of what some analysts were hoping for amid an AI spending boom.
The chipmaker's stock has surged over the past year amid the AI boom
The chipmaker is working on a major deal with OpenAI
The chipmaker fell short of earnings expectations and raised concerns about the timing of a restart in China shipments.
Shares of AMD fell after the chipmaker reported adjusted earnings of 48 cents per share.
Data center sales are now “the primary driver of our revenue and earnings growth,” according to CEO Lisa Su. AI agents are…
