From Nasdaq Group:

The share prices of Advanced Micro Devices (NASDAQ: AMD) have seen a significant rise in anticipation of a second wave of AI spending in 2024. The company is forecasting a 75% increase in data center GPU revenue to over $3.5 billion in 2024, signaling growth in this sector. However, AMD’s data center business for non-AI applications is still recovering after soft market demand. AMD also expects overall modest growth in 2024, with an emphasis on the client segment’s demand recovery in the year ahead. However, investor caution is advised, given the stock’s high valuation reflecting the AI business and a possible continuation of strong growth going forward.



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