US chipmaker Advanced Micro Devices (AMD) said its second-quarter revenue rose 50% year on year to US$11.5 billion. Net income reached US$2.3 billion for the period ended June 27.

The results topped analyst estimates, but AMD shares fell in extended trading after the company forecast about US$13 billion in revenue for the current quarter.

That was above the London Stock Exchange Group (LSEG) consensus of US$12.52 billion but below some higher investor expectations.

AMD’s data center revenue rose 107% to US$6.7 billion, which the company attributed to central processing unit (CPU) and graphics processing unit (GPU) sales.

Client and gaming revenue, which covers chips for consumer devices such as laptops, rose 6% to US$3.8 billion. Embedded revenue, which includes chips for industrial uses, increased 19% to US$977 million.

AMD also said it will begin shipping its Helios rack-scale AI system this year to companies including Meta, OpenAI, and Oracle.

🔗 Source: CNBC