It's currently going head-to-head with Nvidia for market share of the lucrative, high-powered AI chip market. Shares in Nvidia ( NVDA ), meanwhile, were up 4% in midday trading Wednesday after Google's parent company, Alphabet, announced it will spend $75 billion in expected capital expenditures in 2025, a majority of which will go into building data centers and servers in an effort to help Google increase its AI capabilities. On Tuesday, AMD reported Q4 revenue that came in at $7.66 billion, beating estimates of $7.54 billion, and an adjusted earnings per share (EPS) of $1.09. Looking ahead to the first quarter of 2025, the chipmaker forecast revenue coming in between $6.8 billion and $7.4 billion.