AMD sees 35% annual revenue growth over next five years

Investing.com -- Advanced Micro Devices Inc. expects its annual revenue to grow by more than 35% on average over the next three to five years, driven by strong demand for its data center products.

AMD CEO Lisa Su offered the guidance Tuesday at a company event in New York, where she also projected that AMD’s AI data center revenue would increase by an average of 80% over the same period.

Su estimated that the total AI chip market, including accelerators, processors, and networking products, will reach $1 trillion by 2030.

AMD’s stock has approximately doubled this year, bolstered by agreements with companies like OpenAI and Oracle Corp.. These deals have validated the quality of AMD’s products and shown its technology can capture a sizeable part of the tens of billions of dollars being invested in new data centers.

The company’s updated long-term outlook comes amid growing questions about whether the massive spending on new computer systems for artificial intelligence work can be sustained at current levels.

You May Also Be Interested In

• SolarEdge (SEDG) PT Lowered to $31 at Jefferies, 'We see shares as an unappealing short, not a compelling long'
• JRM Construction Management Delivers Multi-Floor Headquarters for Roivant at One Penn Plaza
• SMS Gadget: Bangladesh's Authorized Best Shop Delivers Latest iPhone Just One Day After Official Launch