Amazon.com Inc. ( AMZN ) has purchased 822,234 shares of Advanced Micro Devices Inc. ( AMD ) worth $84.4 million, according to a 13F regulatory filing with the Securities and Exchange Commission on Tuesday.

What Happened: The strategic investment comes as AMD continues to gain momentum in the data center and AI chip markets. AMD recently reported first-quarter revenue of $7.44 billion, exceeding analyst expectations of $7.13 billion, with its data center segment growing 57% year-over-year to $3.7 billion.

During AMD’s earnings call, CEO Lisa Su addressed ongoing challenges regarding U.S. export restrictions to China and upcoming AI diffusion rules set to take effect May 15. Su confirmed these limitations were already factored into the company’s $500 billion total addressable market projections for AI accelerators.

“We’re very actively working with the government as they’re thinking through these rules, and it’s a very fine balance,” Su stated. She emphasized AMD’s commitment to ensuring “U.S. AI companies remain the world’s primary technology platforms.”

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Why It Matters: The Donald Trump administration is reportedly considering revisions to AI export controls, potentially shifting toward a global licensing system based on bilateral agreements.

The company projects second-quarter revenue around $7.4 billion, surpassing analyst forecasts of $7.24 billion, while anticipating approximately $800 million in inventory-related charges tied to new export regulations.

Price Action: AMD shares closed at $98.62 on Tuesday before rising 1.72% in after-hours trading to $100.32.

According to Benzinga Stock Edge Rankings, AMD ranks in the 66th percentile for growth. Want to see how other chipmakers like Nvidia Corp. ( NVDA ) stack up? Click here for the full rankings.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.