AMD shares jump as earnings defy collapse seen at Intel

Shares of Advanced Micro Devices Inc rose nearly 7 per cent on Wednesday after the U.S. chipmaker's upbeat earnings showed that it was making up for a personal-computer slump with gains in the lucrative data center market.

Lisa Su-led AMD on Tuesday posted quarterly revenue that beat Wall Street targets, but its sales forecast for the three months to March 31 fell short of estimates by over $150 million. The data center market has slowed in recent months due to lower spending from recession-wary businesses, but AMD's faster and smaller chips have allowed it to gain ground on Intel.

J.P. Morgan pegged AMD's share gain in the server market this year at 5 to 7 per centage points to between 28 per cent and 30 per cent.

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