AMD's Su explains what's behind massive forecast change as stock roars 15% on earnings

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Advanced Micro Devices

CEO Lisa Su told CNBC on Wednesday that her massive forecast revision was due to the demand surge for central processing units led by the growth of agentic artificial intelligence.

“Agents are really driving tremendous demand in the overall AI adoption cycle, and we’re very excited to be in the middle of it.” Su told CNBC’s “Squawk on the Street.”

The company beat analyst estimates on Tuesday for both earnings per share and revenue in the first-quarter. Revenue climbed 38% year-over-year, with Su highlighting the company’s data center business as the primary driver.