Advanced Micro Devices posted first-quarter results that topped expectations, with revenue climbing 38 percent on robust server chip sales tied to artificial intelligence.
The company highlighted strong second-quarter guidance and a bullish view on future central processing unit demand. Management forecasts the server CPU market will expand more than 35 percent each year, reaching 120 billion dollars by 2030. UBS analysts project an even larger total addressable market of 170 billion dollars over the same period.
