AMD shares jump on earnings beat

stronger-than-expected full-year and second-quarter revenue, with the data centre boom boosting demand for its chips, and its shares rose in after-hours trade.

Worldwide spending on cloud infrastructure services jumped 34% to US$55.9-billion in the first quarter, according to data from research firm Canalys, highlighting huge opportunities for companies supplying chips and other hardware to the industry. Graphic card prices have been falling in recent weeks as demand for consumer products that use them have been softening with the lockdown in China and inflation concerns.

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