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CryptoWorld News reports that AMD (the world's second-largest computer processor manufacturer) has raised its profit forecast for the current fiscal quarter following a surge in AI demand, expecting second-quarter sales of $11.2 billion, with a fluctuation of $300 million, compared to the average analyst prediction of $10.5 billion.
After the announcement, AMD's stock price rose as much as 7.1% in after-hours trading.
The outlook indicates that AMD is benefiting from massive investments in artificial intelligence computing, although NVIDIA remains the dominant supplier, data center clients are increasingly seeking alternatives, which is favorable for AMD.