Advanced Micro Devices reported that revenue in its second quarter was $5.36 billion, down 18% from a year earlier as the client PC market continues to climb back during the economic downturn.
But investors took the report as good news, as AI-related stocks such as AMD, which makes the processors and graphics processing units (GPUs) used in AI machines, are riding on high demand for AI. In after-hours trading, AMD’s stock rose 5% to $123.5 a share. PC market conditions also improved from the previous quarter. As a result, AMD beat expectations for both revenues and net income.
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