The results show that AI adoption continues to ramp higher.

On Tuesday, Advanced Micro Devices, Inc. AMD CEO Lisa Su said surging demand from agentic artificial intelligence is dramatically expanding the long-term server CPU opportunity, prompting the chipmaker to double its market forecast to more than $120 billion by 2030.

Shares of Advanced Micro Devices (NASDAQ:AMD | AMD Price Prediction) are sinking 6% in midday trading Monday, changing hands near $340 after closing Friday at $360.54. The selloff stands out because AMD’s peers are barely moving.

Super Micro Computer reported sales more than doubling, also driven by the booming data-center business. The stock jumped 18%, to $32.67, following the market close. Arista Networks reported a higher profit and a rise in revenue in the first quarter. However, shares fell 12%, to $150.32

AMD’s AI chip sales fall within its data center segment, and it was predictably the best-performing unit, as sales rose 57% from a year earlier to $5.8 billion. The company said it benefited from strong demand for its EPYC server chips and the continued ramping of its Instinct graphics processing units.

Advanced Micro Devices (NASDAQ:AMD | AMD Price Prediction) keeps grabbing headlines as the consensus “NVDA alternative” in AI GPUs, the trade every retail account and hedge fund analyst seems to be piling into at the same time.

Advanced Micro Devices Inc., the leading challenger to Nvidia Corp. in AI computing chips, soared to new heights in late trading after a flood of data center spending bolstered its sales forecast.