AMD shares jump on record growth in data center revenue

Chipmaker Advanced Micro Devices (AMD) has reported record quarterly growth in data center sales and projected revenue growth in fiscal 2019 above Wall Street expectations, sending its shares up 10% after the bell. Investors were bracing for weak results from AMD after warnings from a host of other chipmakers about a slowdown in China that was triggered by a trade dispute with the United States. Shares of Nvidia and Micron Technology also rose nearly 2% in after-hours trading while Intel was up marginally. Bigger rivals Nvidia and Intel both flagged stagnating growth in data center sales, a segment in which AMD is beginning to get a foothold on the back of its server chips.