From Dow Jones & Company:

Advanced Micro Devices Inc. boosted annual revenue forecast for its AI chips to over $3.5 billion in 2024, well above its $2 billion forecast. But stocks fell 6% after the announcement, after an 80% rally. For the current quarter, AMD forecasts a $5.4 billion revenue at the midpoint, below analyst projections of $5.7 billion. AMD saw a Q4 net income of $667 million, up from $21 million in 2020, while revenue rose to $6.2 billion from $5.6 billion. The company forecasted sequential revenue declines in its client, embedded, and gaming businesses, with significant double-digit falls in semi-custom revenue.



Read more: AMD’s AI revenue outlook gets a boost — but apparently not enough, as stock falls