AMD's AI chip revenue miss knocks shares amid intense rivalry with Nvidia

Quick Summary:

:Advanced Micro Devices shares tumbled more than 10 per cent on Wednesday after the company's AI chip revenue failed to meet lofty expectations, reinforcing its struggles to grab market share from well-entrenched market leader Nvidia.

AMD is set to lose more than $19 billion of its market capitalization if current losses hold.

At least 22 analysts have cut their price targets on the stock, with the median now at $150, compared to $166.5 before the results.

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Category: EconomyBusiness

Markets: Singapore

Topics: Share Expectations Revenue Cent Nvidia Market 2023 Billion Shares Company Compared

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-05 @ 15:18:33 (14 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 410 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 28 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 25911149

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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