AMD forecasts $17 billion fourth-quarter revenue as AI demand drives record data-center sales

AMD forecast fourth-quarter revenue above Wall Street estimates on Tuesday and the company’s data-center revenue hit a record on robust demand as its multibillion-dollar effort to challenge Nvidia’s dominance of the AI chip market gathers pace.

The upbeat forecast offered some relief to investors rattled by mounting concerns over the cost of the massive AI buildout and Intel’s weak outlook.