AMD is up 7% on earnings after data center revenue nearly doubled. The market is paying for data center growth, and that is the line that sets the multiple from here.

What happened: AMD reported better-than-expected third-quarter results, driven by booming sales of AI chips. The stock jumped 7% on the earnings. Key numbers: Stock up 7% in the third quarter. Data center revenue nearly doubled. Why it matters: The results were driven by booming sales of AI chips, and the data center segment's near doubling points to strength in that business. Coverage: 3 outlets in 24h

AMD reported better-than-expected third-quarter results, driven by booming sales of AI chips. The stock jumped 7% on the earnings.

The results were driven by booming sales of AI chips, and the data center segment's near doubling points to strength in that business.