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00:02Advanced Micro Devices shares fell 9% in pre-market trading on Wednesday after the
00:07company issued a first-quarter revenue forecast that fell short of some analyst expectations,
00:12according to CNBC. AMD reported fourth-quarter revenue of $10.27 billion,
00:18topping LSEG estimates of $9.67 billion. The company forecast first-quarter revenue of $9.8
00:26billion, plus or minus $300 million, compared with expectations of $9.38 billion.
00:33Some analysts had expected stronger guidance given ongoing spending on AI processors.
00:38Susquehanna analyst Chris Rowland said expectations were high and noted that
00:43unexpected Chinese revenue shipments reduced the size of the beat. He said data center demand
00:48remained strong and pointed to potential multi-gigawatt contracts. AMD disclosed AI chip
00:53deals with OpenAI and Oracle. For all things money, visit Benzinga.com.
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