(Reuters) -Palantir signaled on Thursday its artificial intelligence offerings would aid growth in the last three months of 2023, after delivering a fourth straight quarterly profit on growing demand for its data analytics services from corporates. The company's shares surged nearly 20% and CEO Alex Karp said the profit was the "most significant" in its 20-year history and it was now eligible for inclusion in the S&P 500. Palantir expects revenue to be between $599 million and $603 million in the fourth quarter, the midpoint of which was above analysts' estimates of $600.5 million, LSEG data showed.
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Shares of the Santa Clara, California-based company fell as much as 4.6% in after-market trading but turned roughly flat after executives disclosed on a conference call the outlook for its chip to compete with Nvidia. AMD is readying a chip called the MI300X it hopes will loosen Nvidia s grip on the market for data center AI chips used to create technologies similar to ChatGPT.
Chip designer Advanced Micro Devices
forecast fourth-quarter revenue below Wall Street
estimates on Tuesday, hurt by a weak gaming market as well as a
decline in demand from some industries for its.
(Reuters) -Chip designer Advanced Micro Devices on Tuesday forecast $2 billion in sales in 2024 from a chip that aims to compete with Nvidia in the artificial intelligence (AI) market, helping shares recover after a quarterly outlook missed expectations. AMD forecast fourth-quarter revenue and gross margins below Wall Street estimates, hurt by a weak gaming market as well as a decline in demand from some industries for its programmable chips. Shares of the Santa Clara, California-based company f