November 2, 2023
AMD Shares Climb 9% On AI Optimism Despite Lowering Guidance
- Shares of chipmaker Advanced Micro Devices (AMD) leaped more than 9% Wednesday after the company said sales of its AI chips could top $2 billion next year.
- However, revenue for the current quarter is expected to be $300 million below analysts’ consensus estimates.
- AMD is ramping up its investments in artificial intelligence (AI) in an effort to catch up to its bigger rival Nvidia, a leader in the global AI race.
- The company’s MI300 processor, which the company has described…