The chipmaker fell short of earnings expectations and raised concerns about the timing of a restart in China shipments.
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Shares of Advanced Micro Devices
slumped more than 5% after the chipmaker’s earnings fell short of earnings expectations and raised concerns about the timing of a restart in China shipments.
The Santa Clara, California-based company reported adjusted earnings of 48 cents per share, falling short of the 49 cents per share expected by analysts polled by LSEG.
CEO Lisa Su singled out the hit from U.S. controls on artificial intelligence chips in a call with analysts.
AMD's first-quarter forecast fell short of what some analysts were hoping for amid an AI spending boom.
AMD, which is second in the market for AI graphics processing units, is grappling with chip export controls.
The chipmaker's stock has surged over the past year amid the AI boom
The chipmaker is working on a major deal with OpenAI
Shares of AMD fell after the chipmaker reported adjusted earnings of 48 cents per share.
Super Micro has been a big beneficiary of the AI boom, but revenue and earnings in the latest quarter fell short of estimates.
