AMD Results Help Calm AI Fears, Even if Midterms Cause Worry
Dow Jones18:39
1039 GMT - AMD's robust quarterly earnings will help put aside any fears that the artificial-intelligence trade is about to fail, Quilter Cheviot's Ben Barringer says. Data-center demand drove revenue growth, Barringer says. "This is a wave that AMD will continue to ride even if the midterm election results paint a more challenged picture for data center buildout." Investors are increasingly viewing AMD as a alternative source of chips to Nvidia, Barringer says. "The fact that AMD is executing its strategy well, taking market share and improving its supply will help to keep investors believing that AI demand is here to stay for a while longer yet." Shares jump 7.2% premarket.
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