Advanced Micro Devices Inc. (NASDAQ:AMD) witnessed a significant surge in its stock price after the company’s second-quarter results exceeded expectations, validating the decision of a prominent investor to reinvest in the chipmaker. What Happened: AMD’s revenue for the quarter rose by 9% to $5.84 billion, surpassing the estimated $5.72 billion,. The adjusted earnings per share also increased by 19% to 69 cents, a cent above the estimates. The company’s data center business, particularly its new artificial intelligence chip, the MI300X, played a pivotal role in this performance. Jim Cramer, a …
