AMD beats first-quarter estimates and shares jump on AI chip demand
Updated
Updated · CNBC · May 5
AMD beats first-quarter estimates and shares jump on AI chip demand
6 articles · Updated · CNBC · May 5
Revenue rose 38% to $10.25 billion, adjusted EPS reached $1.37, and second-quarter revenue guidance of about $11.2 billion topped LSEG estimates.
Data center sales climbed 57% to $5.8 billion and net income nearly doubled to $1.38 billion, as Lisa Su said server growth should accelerate with higher supply.
AMD said it has growing confidence in reaching tens of billions of dollars in data-center AI revenue next year, helped by planned Helios shipments and partnerships including OpenAI and Meta.
With multi-billion dollar AI deals, can AMD's hardware finally dethrone Nvidia's long-standing software dominance?
As AI's energy demand soars, is the power grid becoming the biggest obstacle to technological growth?