Advanced Micro Devices (AMD) stock has risen by 62.8% over the course of 21 trading days. The gains are driven in part by the company’s major deal with ChatGPT maker OpenAI, to supply tens of thousands of its GPU chips for 6 gigawatts of computing capacity over the next five years.

While this deal is important for AMD, what it really signaled was that a leading generative AI company plans on using AMD's hardware. That's a big deal, as AMD's technology has always been seen as a downgrade from Nvidia.

Q3 earnings Tuesday could show strong data center growth with analysts projecting $8.76B revenue driven by EPYC processors and OpenAI deal.

Advanced Micro Devices Inc. is heading into its third-quarter earnings report with powerful seasonal tailwinds, a surging AI narrative, and fresh Wall Street optimism.

This year, it's been a different story, with AMD outperforming its rival, with returns of 115% versus 42%. And despite that impressive surge this year, here's why it still may not be too late to invest in the tech company.

AMD stock has experienced declines of more than 30% within less than 2 months on 14 occasions across multiple years.

The furious rally in AMD's stock over the past month or so raises the stakes for Tuesday's earnings report. AMD's stock is up 58% since before the company announced a 6-gigawatt deal with OpenAI i