US Stock Market Move | American semiconductor company AMD (AMD.US) rose more than 6% in pre-market trading. CEO said that the annual growth rate of AI chip business in the next three to five years may reach 80%.

On Wednesday, American company Advanced Micro Devices (AMD.US) rose over 6% in pre-market trading, reaching $252.39. On the news front, against the backdrop of continuous growth in demand for artificial intelligence chips, AMD stated on Tuesday that the company's overall revenue is expected to grow at an average annual rate of about 35% over the next three to five years. The data center AI chip business will be the core engine, with a projected annual growth rate of up to 80%, and sales are expected to reach hundreds of billions of dollars by 2027. AMD CEO Lisa Su said at the company's first financial analyst day since 2022, "Based on the progress of our current customer collaborations, both the announced customers and those we are in deep collaboration with, we believe this represents significant potential for AMD." She added that the company is expected to capture a "double digit share" of the data center AI chip market in the next three to five years.