Advanced Micro Devices shares fell on Wednesday after the chipmaker under-delivered on Wall Street's estimates for its important data center business. The chipmaker reported better-than-expected results on the top and bottom lines but fell short of Wall Street expectations for its data center sales.

AMD (AMD) stock plunged after its weak near-term outlook on data center growth prompted analysts to cut price targets, despite quarterly

(Reuters) -Advanced Micro Devices shares fell 9% in premarket trading on Wednesday, after the company's AI chip revenue failed to meet lofty expectations of investors betting billions on growth prospects of generative artificial intelligence.