Guoabong Stock:AMD forecasts Q4 revenue below estimates, raises 2024 AI chip forecast to $5 billion
Revenue in its data center business, which includes AI chips, surged 122% to $3.5 billion, topping estimates. “AMD’s stock was priced for a beat and raise,” Summit Insights analyst Kinngai Chan saidGuoabong Stock. “Clearly, AMD’s (fourth-quarter) outlook was not good enough for investors.”Jaipur Investment While AMD sees strong demand for its AI chips, it still…