Advanced Micro Devices Inc., the main contender to Nvidia Corp. in the artificial intelligence chip market, failed to impress investors with its revenue forecast after an eye-popping rally sent expectations soaring.

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Advanced Micro Devices reported record quarterly results above analysts' projections as booming demand for AI helped boost sales of its data center chips.

Advanced Micro Devices forecast fourth-quarter revenue above market estimates on Tuesday, betting on the multibillion-dollar expansions of data center infrastructure to boost demand for its artificial intelligence chips.

Chipmaker AMD announced that it earned a net income of $1.2 billion on revenues of $9.2 billion in the quarter ending September 27.

AMD is putting pressure on Intel in the channel, reflected by the company’s victory in CRN’s 2025 Annual Report Card and a 40 percent boost in spending for its restructured partner program.

AMD (AMD) shares were active in extended trading on Tuesday after the semiconductor company reported third-quarter results. Read for more.

AMD is targeting revenue of $9.6 billion, plus or minus $300 million, for the fourth quarter, topping the FactSet consensus of $9.2 billion. The midpoint of its outlook would imply 25% year-over-year growth.