AMD expects profit to triple by 2030, data center chip market to grow to $1 trillion
NEW YORK: Advanced Micro Devices said on Tuesday that it expected annual data center chip revenue of $100 billion within the next five years, and its earnings to more than triple.
The Santa Clara, California-based chip designer’s shares were up 4% in choppy post-market trading, after closing down 2.7% at $237.52. The stock has risen 16% since October 6, when the company signed a lucrative multiyear deal with OpenAI that would bring in tens of billions of dollars in annual revenue.
