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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Intel slashes employee, exec pay amid PC market downturnIntel Corp on Wednesday confirmed that it has implemented broad employee pay cuts.The reductions will range from 5 per cent of base pay for mid-level employees to as much as 25 per cent for Chief Executive Pat Gelsinger, while the company's hourly workforce's pay will not be cut, a person familiar with th
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Tech firm Intel slashes employee, exec pay amid PC market downturnAmerican multinational technology firm Intel on Tuesday (Jan 31) confirmed that it has implemented broad employee pay cuts. The reductions will range from 5 per cent of base pay for mid-level employees to as much as 25 per cent for chief executive officer Pat Gelsinger, while the company's hourly workforce
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