Advanced Micro Devices shares dropped nearly 7% in premarket trading Wednesday after the chipmaker projected first-quarter revenue below its record fourth-quarter figure. AMD forecast about $9.8 billion, plus or minus $300 million, factoring in a $390 million lift from China-bound Instinct MI308 AI chip sales under a U.S. license. Bernstein analyst Stacy Rasgon said some investors wanted clearer signs of sustained momentum. CEO Lisa Su expects demand for next-gen AI servers, including shipments to OpenAI, to pick up in the second half and downplayed concerns over the global memory-chip shortage.