Hey guys!! Yesterday we were saying chips had crashed, and then AMD swooped in last night with an earnings report that saved the day!!!
AMD’s official Q3 results (after the market close on Nov. 3, U.S. Eastern Time): revenue came in at around $13.38 billion, up 45% year over year and above the market’s estimate of $13.09 billion. Data center revenue was about $8.55 billion, nearly doubling year over year (+97%); both Instinct GPUs and EPYC hit records~ Fourth-quarter guidance came in at around $17 billion, versus expectations of only about $16.2 billion. On the earnings call, Lisa Su also said revenue is expected to grow more than 80% in 2027 (Reuters/CNBC).
The stock jumped 7–8% after hours, with Nvidia and Broadcom also ticking up, and compute cloud companies like CoreWeave and Nebius were in the green too haha. Basically, to the question “Is AI spending getting out of hand?”, AMD came back with orders to prove its point!!!
But crypto still hasn’t caught that wave~ I just checked CoinGecko: Bitcoin’s around $76K, down a little less than 1% over 24 hours, and ETH is around $2,239. It got pushed down again after last night’s election results came in, and ETFs are still seeing outflows. The AI sentiment in U.S. stocks hasn’t spilled over yet.
Honestly, Bitcoin got dumped alongside the Nasdaq before. Now, if the Nasdaq bounces on AI earnings, whether crypto follows is the biggest thing to watch over the next couple of days!! If it can’t keep up, that says the problem is on its own side (Binance drama + institutions pulling out). I’m still not chasing; I’ll just keep buying in around $76K~
Do you think this AI stock rebound can lift Bitcoin?
$BTC $ETH
#AMD #AI #Crypto
AMD’s official Q3 results (after the market close on Nov. 3, U.S. Eastern Time): revenue came in at around $13.38 billion, up 45% year over year and above the market’s estimate of $13.09 billion. Data center revenue was about $8.55 billion, nearly doubling year over year (+97%); both Instinct GPUs and EPYC hit records~ Fourth-quarter guidance came in at around $17 billion, versus expectations of only about $16.2 billion. On the earnings call, Lisa Su also said revenue is expected to grow more than 80% in 2027 (Reuters/CNBC).
The stock jumped 7–8% after hours, with Nvidia and Broadcom also ticking up, and compute cloud companies like CoreWeave and Nebius were in the green too haha. Basically, to the question “Is AI spending getting out of hand?”, AMD came back with orders to prove its point!!!
But crypto still hasn’t caught that wave~ I just checked CoinGecko: Bitcoin’s around $76K, down a little less than 1% over 24 hours, and ETH is around $2,239. It got pushed down again after last night’s election results came in, and ETFs are still seeing outflows. The AI sentiment in U.S. stocks hasn’t spilled over yet.
Honestly, Bitcoin got dumped alongside the Nasdaq before. Now, if the Nasdaq bounces on AI earnings, whether crypto follows is the biggest thing to watch over the next couple of days!! If it can’t keep up, that says the problem is on its own side (Binance drama + institutions pulling out). I’m still not chasing; I’ll just keep buying in around $76K~
Do you think this AI stock rebound can lift Bitcoin?
$BTC $ETH
#AMD #AI #Crypto