AMD Stock Rises Ahead of Financial Analyst Day with Updated AI Forecast and Strategy to Lead $1 Trillion Compute Market
Advanced Micro Devices stock is rallying before the chip maker's Financial Analyst Day where they are expected to present updated plans for the artificial-intelligence market. CEO Lisa Su hinted at raising the previous $500 billion AI data center chip forecast for 2028. Additionally, AMD has unveiled a strategy to dominate the $1 trillion compute market and drive further growth. The company anticipates an average annual revenue growth of 35% over the next three to five years, with a 60% compound annual growth rate in its data center business. The stock rose by 5.2% to $245.75 in Monday trading amidst a broader market rebound. The event is scheduled for Tuesday in New York City, where AMD's executive team will outline their strategy and long-term financial plan.