AMD surges after issuing positive outlook for AI chips next year. Here’s what the pros say

by | Nov 1, 2023 | Financial

Market Movers rounded up the latest reactions to Advanced Micro Devices from investors and analysts. The pros, including Jim Cramer , discussed the chipmaker after it reported third-quarter results that beat on both earnings and revenue. After market close Tuesday, AMD reported adjusted earnings of 70 cents per share on revenue of $5.8 billion. Analysts anticipated earnings of 68 cents per share and revenue of $5.7 billion, according to LSEG, formerly known as Refinitiv. AMD CEO Lisa Su said the company expects data center graphics processing units revenue of about $400 million in the fourth quarter , and it anticipates topping $2 billion in 2024. These high-powered GPUs power artificial intelligence models. AMD closed the trading session up 9.7%.

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