AMD forecasts upbeat revenue on AI data-center demand, beats quarterly estimates

Aug 4 : AMD forecast quarterly revenue above Wall Street estimates on Tuesday, banking on strong demand for its chips from massive data-center capacity expansions to power AI technologies.Shares of the Santa Clara, California-based company, however, fell over 8 per cent in extended trading.The company is regarded as chip giant Nvidia's closest rival in the market for graphics processing units, as major technology companies and governments worldwide ramp up spending on AI infrastructure.AMD has stepped up its AI product launches and moved beyond selling individual chips to offering AI systems that combine processors, networking gear and related hardware, giving customers an integrated AI infrastructure option and allowing it to better rival Nvidia's rack-scale offerings. The company expects