AMD’s AI chip Q4 revenue miss knocks shares amid rivalry with Nvidia

Advanced Micro Devices shares tumbled more than 10 per cent on Wednesday after the company’s AI chip revenue failed to meet lofty expectations, reinforcing its struggles to grab market share from well-entrenched market leader Nvidia.

The company’s fourth-quarter data center revenue – a proxy for its AI performance – jumped 69 per cent to $3.9 billion, compared with the consensus estimate of $4.15 billion.