While Nvidia dominates in AI GPUs, analysts still see room for AMD to capture a meaningful slice of the market.

On the top line, AMD generated sales of $7.69 billion, representing a 32% lift from the year-ago period. This tally also exceeded the consensus view of $7.42 billion. Still, it wasn’t enough to convince investors to hold onto AMD stock,

Investors likely wanted more upside after a rally in the stock price over the past three months. The stock pointed 5.4% lower at $164.99 in premarket trading Friday. The chip maker reported second-quarter adjusted earnings per share of 48 cents,