AMD forecasts quarterly revenue above estimates as data-center growth accelerates

What happened: AMD forecast fourth-quarter revenue above Wall Street estimates, citing strong chip demand as its effort to challenge Nvidia's AI semiconductor dominance gains momentum. Key numbers: Q4 revenue guidance about $17 billion, plus or minus 3 per cent, versus $16.23 billion estimate. Q3 revenue rose 45 per cent to $13.38 billion. Why it matters: AMD is capturing market share from Intel, which forecast quarterly revenue well below estimates and triggered a global selloff in chip stocks. AMD shares have more than doubled this year. Coverage: 4 outlets in 24h

AMD forecast fourth-quarter revenue above Wall Street estimates, citing strong chip demand as its effort to challenge Nvidia's AI semiconductor dominance gains momentum.

AMD is capturing market share from Intel, which forecast quarterly revenue well below estimates and triggered a global selloff in chip stocks. AMD shares have more than doubled this year.