AMD beats Q1 earnings and revenue estimates, forecasts strong Q2 on AI chip demand surge

Advanced Micro Devices (AMD) reported first-quarter earnings and revenue that exceeded analysts' expectations, driven by a 38% revenue increase and a 57% jump in data center sales. The company forecasts about $11.2 billion in revenue for Q2, surpassing estimates, as demand for AI chips continues to grow. CEO Lisa Su highlighted the data center unit as the main growth driver and expects server growth to accelerate with increased supply. AMD's stock has more than tripled in the past year, fueled by optimism around AI and new product launches like the Helios AI data center system.