AMD Shares Rise 4.53% in Premarket Trading After Earnings Report

AMD shares were up 4.53% in premarket trading at 6:58 a.m. ET Wednesday after the chipmaker reported record third-quarter revenue and near-doubling sales in its Data Center segment. The quarter ended Sept. 26. Revenue increased 45% year over year to $13.377 billion. Data Center revenue hit a record $8.5 billion, up 97%. AMD linked the segment’s increase to EPYC processor demand and the launch of its Instinct MI450 Series GPUs. “We delivered a record quarter with revenue exceeding the high end of our guidance as Data Center segment sales nearly doubled year-over-year,” said Dr. Lisa Su, AMD chair and CEO.