Key Points
Shares of Advanced Micro Devices (NASDAQ: AMD) surged 13.3% this week, reaching near all-time highs following a strong first-quarter report. The semiconductor company reported overall revenue growth of 38% to $10.25 billion, driven largely by a 57% increase in data center sales to $5.8 billion.
AMD has secured various contracts in the AI sector, including a partnership with Meta Platforms to deploy one gigawatt of supply in the latter half of 2023. The company anticipates continued demand, expecting 46% revenue growth in the second quarter.
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