AMD Records Modest Profit Increase in Q1 2024 and Bolsters Its Position in the Booming Artificial Intelligence Business With New AI Chip. The company reported earnings of $0.62 per share, a modest increase from the previous year's $0.60 per share, narrowly beating analyst expectations of $0.616 per share.

The company's total revenue increased slightly by two percent to 5.47 billion dollars compared to the previous year, nearly meeting the forecast of 5.48 billion dollars. AMD was particularly strong in the data center chip segment, where revenue increased by 80 percent to 2.3 billion dollars. This area increasingly includes chips for artificial intelligence applications, where AMD is intensifying its competition with NVIDIA.

The PC processor business also saw robust growth, jumping from $739 million to $1.37 billion. In contrast, AMD had to accept nearly a halving of sales in the console chip business to $922 million, which weighed on total revenue.

Following this news, the AMD stock fell by 7.00 percent to 147.30 US dollars in after-hours trading on NASDAQ. Despite the decline in profits, AMD continues to position itself as a strong player in the fiercely competitive technology market, especially in the rapidly growing segments surrounding artificial intelligence and data centers.