AMD rallies after CEO Lisa Su says AI business to grow more than 60% a year for 3 to 5 years

Shares of Advanced Micro Devices are up around 5.3% as of 5:05 a.m. ET, after CEO Dr. Lisa Su unveiled optimistic medium-term revenue guidance at the company’s Financial Analyst Day yesterday.

Over the next three to five years, her outlook is for compounded annual revenue growth of over 35% for AMD as a whole, with growth north of 60% for its data center business.

With a pinch of salt about how predictions are hard, especially about the (further out) future, the consensus estimate for AMD’s data center revenues in 2028 is $51.1 billion. If we use just 60% compounded annual growth and assume AMD hits its year-end estimate for about $16.26 billion, that would put the company’s 2028 AI sales around $66.6 billion.

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SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

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