AMD Stock Rises as CFO Raises AI Chip Market Forecast; Intel Gains Modestly
Advanced Micro Devices (NASDAQ:AMD) stock rose nearly 3% on Wednesday after Chief Financial Officer Jean Hu raised the total addressable market for AI chips to $2 trillion–$3 trillion by 2030, up from a prior estimate of $2 trillion. The revised forecast fueled optimism about AMD’s growth potential in the data center segment and broader AI markets. Hu also confirmed that TSMC remains AMD's primary wafer supplier, dismissing speculation around Intel Foundry involvement. AMD reported strong performance in its Data Center business, with revenue jumping 107% year-over-year to $6.72 billion in Q2 2026 and accounting for nearly 58% of total sales. The company’s fiscal 2027 earnings per share (EPS) estimates were raised from $12.96 to $15.45, supported by 33 upward analyst revisions. Meanwhile, Intel (NASDAQ:INTC) saw a modest gain of about 1%, but the broader semiconductor sector showed limited movement compared to AMD’s strong performance.
Tickers: $AMD $INTC $META $TSM
Topics: AI chips CFO guidance foundry operations semiconductors