AMD rallies on AI chip demand as US stocks rise on election day

· Economy · United States

AMD reported better-than-expected third-quarter results driven by booming sales of AI chips, with data centre revenue nearly doubling, and forecast 2027 sales above estimates; its stock jumped 8%. The results helped US equity futures and the S&P 500 advance on election day as the artificial-intelligence trade regained momentum and chip stocks rebounded, with the S&P 500 snapping a three-day skid. The Nasdaq Composite also rose. Bonds fell and the dollar rose. Investors are weighing how the midterm results could affect stocks, Treasury yields, AI policy, energy prices, banks, defence and healthcare, with a Democratic sweep seen as a possible jolt to markets.

Why it matters：AMD's results are a key test of whether AI chip demand can sustain the market's biggest growth trade, while the election outcome could shift regulation, spending and tax policy that drive tech valuations.

Key points

  • AMD's data centre revenue nearly doubled, and it forecast 2027 sales above estimates.
  • The S&P 500 snapped a three-day losing streak on election day.
  • Bonds fell and the dollar rose as AI optimism returned.

Sources (original reporting)

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