Key Updates on AMD Ahead of Advancing AI Event
Advanced Micro Devices (NASDAQ: AMD) is set to hold its Advancing AI event on July 22 in San Francisco, where it is expected to announce raised guidance following strong demand for its server processors and CPUs, according to Bank of America analyst Vivek Arya. AMD typically reports its second-quarter results in early August, and a pre-announcement of strong Q2 results is anticipated.
Additionally, AMD is likely to announce Anthropic as a new customer for its graphics processing units (GPUs) and may include Microsoft in the lineup. Jefferies analyst Blayne Curtis hints that AMD could revise its total addressable market for data center CPUs from $120 billion to $200 billion, enhancing its long-term outlook.
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