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FollowingSummary
AMD reports record revenue, doubling data center sales
Global AI infrastructure spending supports chip demand
Microsoft, Meta and Broadcom expand AI spending
Access to 3 free stock e-books
AMD's share price fell 3.92% to $620.52 despite reporting record quarterly revenue growth.
AMD's data center annual revenue surged 107% to US$6.7 billion due to strong AI demand. According to Gartner, global AI spending may reach US$2.59 trillion by 2026. Microsoft reported quarterly revenue of $90 billion and a 43% increase in its Azure cloud business. As computing demand expands, Broadcom's AI semiconductor revenue jumped 221%.
Shares of Advanced Micro Devices (AMD) fell 3.92% to $620.52 in intraday trading, or $25.34, despite its strong quarterly results. The decline followed an afternoon sell-off that pushed shares to near intraday lows before recovering slightly. At the same time, rising spending on artificial intelligence infrastructure continues to support demand for advanced processors and data center equipment.
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