Advanced Micro Devices shares rose after Chief Financial Officer Jean Hu projected a $3 trillion total addressable market by 2030. This figure marks a significant increase from the company's previous estimates.
The expanding role of artificial intelligence across data centers and various sectors drives this updated forecast. Investors are monitoring the company's data center CPUs and Instinct GPUs as primary drivers for capturing market share.
Market analysts suggest these strategies could allow AMD to outpace competitors in the coming years. The announcement has strengthened bullish sentiment regarding the company's growth potential within the AI infrastructure space.