AMD jumps 8% as data center revenue nearly doubles

AMD stock jumped 8% in extended trading after the chipmaker beat Wall Street expectations for the third quarter, CNBC reports, with revenue up 45% and data center sales nearly doubling from a year earlier. CEO Lisa Su said on the earnings call that she expects server revenue to double year over year in 2027 and data center AI growth to accelerate even faster than the company had projected 90 days ago. Neoclouds such as CoreWeave and Nebius rallied earlier on Tuesday and stayed higher after the results. AMD expects data center to drive the majority of its revenue and earnings growth, and says it has worked across its supply chain to secure wafers, memory and packaging. For AMD shareholders, the AI boom keeps paying.