July 30 (Reuters) - Arista Networks ( ANET ) forecast

third-quarter revenue above Wall Street estimates on Tuesday,

anticipating strong demand for its networking gear from cloud

computing companies and artificial intelligence applications.

The upbeat forecast highlights Arista's role in the sector,

which has largely benefited from strong demand from cloud

computing firms - some of the largest beneficiaries of the AI

boom.

Rival Juniper last week reported lower-than-expected quarterly

revenue and profit but noted many of its customers have digested

inventory and are investing to bolster AI infrastructure.

Shares of the Santa Clara, California-based company rose

more than 2% in extended trading. Meanwhile, chip major Advanced

Micro Devices ( AMD ) posted third-quarter revenue above

estimates due to surging AI chip demand.

The company forecast third quarter revenue in the range of

$1.72 billion to $1.75 billion, compared with estimates of $1.73

billion, according to LSEG data.

Its revenue for the quarter ended June 30 rose about 16% to

$1.69 billion, beating analysts' estimate of $1.65 billion.

The company reported net income of $665.4 million, compared

with $491.9 million a year ago.

On an adjusted basis, the company earned $2.10 per share,

compared with profit of $1.58 apiece in the previous year.