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AMD's strong second-quarter results drove a strong rise in its stock price.Overnight, AMD's stock price surged 7.74% to $138.44 in after-hours trading, with a market value of $223.763 billion.

The financial report shows that AMD's total revenue this quarter was US$5.835 billion, a year-on-year increase of 9% and a month-on-month increase of 7%, while the previous expectation was US$5.72 billion; net profit was US$265 million, a year-on-year increase of 881% and a month-on-month increase of 115%.

The growth rate of the data center business was particularly impressive, doubling in one year. The outstanding performance of the company's AI chips has greatly boosted investor confidence.

Analysts believe that AMD's strong performance is mainly due to the strong competitiveness of AMD's AI chips. Su Zifeng said that the development of AI chips has slowed down and the supply will continue to be tight in the short term.

The data center business has doubled down, and the MI300 directly competes with Nvidia's H100

Financial report data shows that AMD's data center business had net revenue of $2.8 billion in the second quarter, a year-on-year increase of 115%. This was mainly due to the strong demand for the AI ​​accelerator MI300.

MI300, AMD's flagship product competing with Nvidia's H100, achieved sales of more than $1 billion in a single quarter, far exceeding market expectations.

AMD CEO Lisa Su said in a call with analysts that the company's AI chip sales were "higher than expected." She also revealed that AMD plans to launch MI325X in the fourth quarter of this year, MI350 in 2025, and MI400 in 2026 to maintain its competitive advantage in the market. "MI350 should be 'very competitive' with Nvidia's Blackwell."

Some analysts believe that Nvidia still has a leading advantage over AMD.Despite doubling this year, AMD's data center business is a fraction of Nvidia's- $2.8 billion in one quarter, compared to $22.6 billion for Nvidia, which also just achieved record results in the data center sector.

Although AMD's performance was outstanding, the problem of tight supply chain still exists.Su said that while the company is working to improve supply chain conditions, MI300 "will remain tight in supply through 2025."

In addition to the data center business, AMD's personal computing business also performed well. Ryzen CPU sales increased by 49% year-on-year, while Radeon 6000 GPU sales also achieved year-on-year growth.

Looking ahead, AMD expects "data center GPU revenue to exceed $4.5 billion in 2024, up from our April forecast of $4 billion."