Advanced Micro Devices (AMD) rose more than 2% in pre-market trading, extending Monday’s 4% gain. The latest move comes after reports that OpenAI is exploring alternatives to Nvidia’s (NVDA) chips. Adding to the momentum, AMD is set to report Q4 earnings after the market closes today, with analysts and investors upbeat on strong results driven by data center and AI demand.
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Overall, Wall Street analysts expect the company to post revenue of $9.67 billion, up 26% from the year-ago quarter, according to data from the TipRanks Forecast page. Meanwhile, Wall Street expects the company to report earnings of $1.09 per share, up from the year-ago period.