From Nasdaq:

AMD forecasted a first-quarter revenue below Wall Street estimates, but strong sales for its AI processors. Businesses seek alternatives to Nvidia’s AI chips, opening the door for AMD. In Q4, the company’s data center segment’s revenue grew 38% to $2.3 billion. AMD predicts a 2024 supply of AI chips “well above” $2 billion, with a forecast of $400 million for Q4. The company reported overall Q4 revenue of $6.17 billion and an adjusted gross margin of 51%. For the current quarter, AMD expects revenue of $5.4 billion, a first-quarter gross margin of about 52%. The market for programmable chips has faltered due to weak end-market demand. AMD’s fourth-quarter embedded segment revenue fell roughly 24% to $1.1 billion. Rival Intel flagged corrections in programmable chip inventories, expected to last through the first half of the year.



Read more: Chipmaker AMD forecasts quarterly revenue below estimates