AMD lifts Q3 outlook on AI data-center demand as shares slip after hours

AMD forecast third-quarter revenue of about $13 billion, plus or minus $300 million, above the $12.52 billion Wall Street estimate compiled by LSEG, Reuters reported, citing strong demand for chips tied to data-center expansions that power AI systems. Second-quarter revenue rose 50% to $11.54 billion, beating the $11.28 billion estimate. Data-center revenue more than doubled to $6.72 billion versus expectations of $6.48 billion, and adjusted profit was $1.66 per share against an estimated $1.62. The company guided adjusted gross margin near 56%. Shares still fell more than 7% in extended trading after the stock more than doubled this year on AI optimism. Reuters reported AMD has moved beyond discrete chips toward integrated AI systems and recently agreed to sell Anthropic servers powered by up to 2 gigawatts of MI450 chips from early 2027 while investing up to $5 billion in the company, contingent on deployment milestones. AMD also locked in up to 2.5 GW of data-center capacity with Core Scientific.