New Delhi, May 6 -- Shares of Advanced Micro Devices (AMD) surged 21.2% on Wednesday, 6 May, to around $430.60 apiece after the chipmaker reported solid first-quarter earnings and issued an upbeat outlook for the ongoing quarter as demand continues to soar for chips powering artificial intelligence workloads.

AMD's first-quarter sales rose to $10.3 billion, up sharply from $7.44 billion a year ago, the company said in a release on Tuesday. Revenue from its Data Centre segment came in at $5.8 billion, up 57% year-on-year, driven by server CPU strength.

AMD has also benefited from renewed demand for its central processing units (CPUs), as these general-purpose chips are increasingly being deployed in systems used to run AI software.

The ...