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00:02Advanced micro devices reported first quarter earnings that beat expectations
00:06and issued a revenue forecast above estimates, driven by strong demand for AI chips, according
00:12to CNBC. The semiconductor company reported adjusted EPS of $1.37 on $10.25 billion in revenue,
00:21exceeding estimates of $1.29 per share and $9.89 billion. Revenue rose 38% year over year,
00:30while data center sales jumped 57% to $5.8 billion. AMD forecast second quarter revenue of about $11.2
00:38billion, above expectations of $10.52 billion. CEO Lisa Su said the data center segment is now the
00:47company's primary growth driver and expects server growth to accelerate as supply scales to meet
00:52demand. Shares rose 5% in extended trading on Tuesday. For all things money, visit Benzinga.com.
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