Fourth-quarter revenue will be roughly $9.6 billion, the company said in a statement Tuesday. Though analysts had estimated $9.2 billion on average, some projections ranged as high as $9.9 billion.Investors have bet heavily on AMD following blockbuster agreements with OpenAI and Oracle Corp.

Preliminary results from research firm Gartner show an 8% boost in worldwide third-quarter PC shipments. For the fourth quarter, AMD expects adjusted gross margin of 54%, compared with estimates of 54.5%. In the third quarter, it recorded an adjusted gross margin of 54%, which slightly topped estimates.

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On the strength of its Data Center and gaming sectors, AMD has reported a $9.2 billion quarterly revenue figure.

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.

AMD said Tuesday that a “sharp” jump in sales for the company’s CPUs across the PC and segments as well as its Instinct data center GPUs allowed it to deliver a record revenue of $9.2 billion for the third quarter as it teased deeper ties with OpenAI.

AMD's stock is off 3.5% in Tuesday's extended session following the earnings call, and Ryan Lee of Direxion attributes the downward move to "some profit taking around the hottest name in semis." "While the initial post-market reaction was relatively mixed,