Advanced Micro Devices shares declined significantly after its revenue forecast fell short. Investors sought clearer proof the company can capitalize on the AI spending boom. SpaceX's decision to exclusively use rival Nvidia's chips also impacted AMD's stock. The company projects data-center revenue to more than double by 2027. AMD's stock has more than doubled this year on AI chip expectations.

Advanced Micro Devices, Inc.’s AI-driven data center growth has traders betting on Q2 revenue topping $6 billion.

Aug 4 : AMD forecast quarterly revenue above Wall Street estimates on Tuesday, banking on strong demand for its chips from massive data-center capacity expansions to power AI…