Advanced Micro Devices Inc., a key challenger to Nvidia Corp. in artificial intelligence chips, gave a sales forecast that soared past analysts’ projections, a sign of buoyant demand for data center processors.
Fourth-quarter revenue will be $17 billion, plus or minus 3%, the chipmaker said in a statement Tuesday. That easily topped the average analyst estimate of $16.3 billion, helping send the shares up about 7% in late trading.