This semiconductor company is witnessing a sharp jump in growth thanks to AI, and investors can still get a great deal on its stock.
The market rally stumbled ahead of the Fed meeting. Amazon and AI plays Super Micro and AMD reported earnings late.
Advanced Micro Devices beat first-quarter revenue estimates by a small margin on Tuesday as tepid demand for semiconductors used in traditional data centers added to weakness in the market for gaming chips. Enterprises rushing to adopt generative AI have prioritized spending on AI server chips, hitting demand for traditional server semiconductors, which constitute a large portion of AMD's revenue.