AMD lifts revenue forecast, CEO says supply chain has improved

Advanced Micro Devices Inc raised its annual revenue forecast on Tuesday, betting on strong demand for its chips used in data centers and personal computers as its chief executive said she was confident the company could source the chips despite a global supply shortage.

The chip designer’s shares rose about 4% in extended trading after it also reported better-than-expected results for the first quarter.

CEO Lisa Su said AMD has “good visibility” into being able to secure additional chips from its manufacturing partners.