Advanced Micro Devices Inc.
(NASDAQ:AMD) stock fell nearly 9% in premarket trading Wednesday as investors appeared to want a stronger forward outlook following the chipmaker's second-quarter results.
The sell-off came even after AMD reported second-quarter revenue of $11.54 billion, topping the Wall Street estimate of $11.28 billion.
However, much of the market's attention shifted to the company's outlook, particularly expectations for Helios, its upcoming rack-scale AI platform.
Futurum Group CEO Daniel Newman said the results "were good," but added that investors were looking for a "blowout guide driven by Helios." AI Investment And Higher Expectations The results also highlighted a sharp increase in investment spending.
