Advanced Micro Devices’ (AMD) second-quarter results last night exceeded expectations. However, the market responded negatively, sending AMD shares down more than 5% in early trading today. The pullback was driven by lower data center artificial intelligence (AI) revenue.

Live Updates Live Coverage Has Ended Wall Street Keeps Pushing for More Guidance on the Ramp of New Data Center Products 6:02 pm Wall Street kept pushing for AMD to give a more specific number on the data center ramp in the second half of the year,

AMD guided Q3 revenue between $8.4 billion and $9 billion, a midpoint above Wall Street's $8.37 billion consensus. Still, investors worry. The rally of nearly 50% year to date may have baked in too much AI optimism.