After its best month in the stock market in almost 25 years, Advanced Micro Devices Inc. needs to show that it truly is a major beneficiary of the artificial intelligence spending boom. That process begins with its earnings after the bell on Tuesday.
AMD shares soared 58% in October, their strongest monthly performance since January 2001, making them by far the best performer in the S&P 500 Index last month. The move was spurred by the company’s deal with OpenAI that could generate tens of billions of dollars in new revenue for the chipmaker. That announcement on Oct. 6 sent the stock flying 24% in a single session.