AMD posted third-quarter results on Tuesday afternoon. The report will put the stock's fiery one-month rally to the test.

Advanced Micro Devices forecast fourth-quarter revenue above market estimates on Tuesday, betting on the multibillion-dollar expansions of data center infrastructure to boost demand for its artificial intelligence chips.

AMD's data center revenue should generate $4.1 billion in Q3, up from $3.5 billion in the prior year, while the company's client segment, which includes sales of CPUs for laptops and desktops, should see $2.6 billion, up 38% year over year. AMD's gaming division is expected to pull in $1.1 billion, up 139%.

Shares of the chipmaker surged on Monday, putting them on track for their biggest one-day gain in over nine years and adding roughly $80B to its market value.

OpenAI's (OPENAI) deals over the past month with the who's who of tech giants have swollen to hundreds of billions of dollars.

While this deal is important for AMD, what it really signaled was that a leading generative AI company plans on using AMD's hardware. That's a big deal, as AMD's technology has always been seen as a downgrade from Nvidia.

OpenAI partners with semiconductor giant AMD to utilize next-generation graphics processing units for powering AI advancements.

As all eyes turn to the fourth quarter, analysts will be looking for $1.32 in adjusted earnings per share on revenue of $9.2 billion, according to the FactSet consensus. When it comes to graphics processing units for the data center,