AMD forecast fourth-quarter revenue above Wall Street estimates on Tuesday (Nov 3), buoyed by strong demand for its chips as its multibillion-dollar effort to challenge Nvidia's dominance of the AI semiconductor market gains momentum. Shares jumped over 7.5 per cent in extended trading and have more than doubled so far this year; Intel shares rose 2 per cent, Nvidia climbed over 1 per cent and Broadcom advanced 1.2 per cent. AMD, which nearly doubled its data-centre revenue in the third quarter, is benefiting as a shift in AI workloads toward running models in real-world applications drives demand for its graphics processing units and central processors, enabling it to capture market share from rival Intel, which last week forecast quarterly revenue well below estimates and triggered a global selloff in chip stocks. AMD expects fourth-quarter revenue of about US$17 billion, plus or minus 3 per cent, above analysts' average estimate of US$16.23 billion, according to data compiled by LSEG. Adjusted gross margin is expected to be about 55 per cent, in line with estimates of 55.27 per cent and down from 56 per cent in the third quarter. AMD has stepped up AI product rollouts, moving beyond standalone chips to compete with Nvidia's rack-scale systems; its flagship Helios rack, combining its MI455X accelerator and new "Venice" server chips, is in production and set for a larger ramp-up in the fourth quarter