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AMD stock jumps more than 8% on strong 2024 AI chip projections

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AMD stock jumped Wednesday after the company said it expects to bring in more than $2 billion in revenue from its data center GPU revenue.

The company is one of a handful of players that can make the high-powered GPUs needed in much of artificial intelligence.

One comment seems to have excited Wall Street: AMD CEO Lisa Su said Tuesday evening that the company expects GPU revenue of about $400 million during the fourth quarter, and to top $2 billion in 2024.. Still, AMD is one of only a handful of companies capable of making high-powered graphics processing units that power AI models.

 

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AMD stock jumps more than 8% on strong 2024 AI chip projectionsAMD stock jumped Wednesday after the company said it expects to bring in more than $2 billion in revenue from its data center GPU revenue.
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