AMD falls as dour forecast shows tough competition in AI trade

Advanced Micro Devices shares sank 13% on Wednesday after ‍the company’s lackluster sales forecast deepened investor doubts about its ability to take on AI chip bellwether Nvidia.

AMD ⁠predicted its revenue would fall slightly in the current quarter, even as a resumption of China sales gives an unexpected boost, showing its struggle to penetrate the booming market where Nvidia is aggressively defending its ‌position.