AMD has boosted its 2024 AI processor forecast by $1.5 billion, but this is not enough to meet Wall Street's expectations or alleviate the pain of a significant drop in its programmable chip and videogame businesses. The company also forecasts first-quarter revenue below Wall Street estimates. AMD's data center segment grew 38% from a year ago to $2.3 billion, but demand from cloud computing companies remained "soft." As companies develop and operate their own generative AI applications, enterprise budgets are being funneled into processors used in AI servers. AMD's client segment surged 62% to $1.5 billion, and the company expects the market to grow "modestly" with more upside in the second half of the year as PCs with artificial intelligence capabilities ramp up. AMD's overall fourth-quarter revenue was $6.17 billion, slightly above analysts' estimates of $6.12 billion.