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Advanced Micro Devices, Inc. reported record quarterly revenue of $11.5 billion as AI demand continues to drive data center growth.

Advanced Micro Devices, Inc. reported record quarterly revenue of $11.5 billion and an adjusted EPS of $1.66, marking a significant growth of 50% and 246% respectively. The company's Data Center sales, which now account for nearly 60% of overall sales, saw a 107% year-over-year growth surge. CEO Lisa Su noted that AI is driving a significant expansion in demand for compute across all markets, positioning the company to capture substantial revenue and earnings growth in the years ahead. Despite the strong fundamental results, the stock faced initial pressure due to high valuation multiples. Meanwhile, Space Exploration Technologies Corp. reported revenue of $7.8 billion, growing 92% from the same period last year. While the company's AI segment revenue grew 250%, its AI capital expenditure ballooned to $15.8 billion. Investors are expected to face continued volatility as the market digests these results and the looming share lock-up expiration on August 6th.

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