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AMD drops like a rock and misses earnings ScreenCaptureProject89

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advanced Micro Devices shares moved higher in early Monday trading ahead of the chipmaker’s fourth-quarter earnings later this week, following a series of price target boosts from Wall Street tied to its new AI-focused chip for the $400 billion data-center market.

AMD, which last month launched a new AI-focused chip aimed at challenging the early market dominance of Nvidia
, has added more than $130 billion to its overall market value over the past three months. That’s as investors continue to reprice stocks across the whole of the artificial intelligence sector.
AMD’s new MI300X, a graphics-processing unit designed to support generative artificial intelligence technologies, is expected to produce around $2 billion in sales over the coming year as the group leverages its new launch against Nvidia’s ability to meet the global surge in demand.
Tech analysts say AMD’s MI300X carries more memory, with speed than Nvidia’s top-selling H100.
Nvidia’s massive order backlog as well could give AMD an advantage in early sales as it can meet client needs in the near term while Nvidia is focused on producing and delivering chips that were purchased last year. AMD Chief Executive Lisa Su told investors last month that large language models "continue to increase in size and complexity, requiring massive amounts of memory and compute." She said "the availability of GPUs is the single most important driver of AI adoption.”

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