Use of AMD’s chips for cryptocurrency mining contributed to about 10 percent of the company’s revenue for the first quarter, CEO Lisa Su said on CNBC’s “Squawk on the Street” program Thursday morning.
Su said there was a “nice ramp” across AMD’s core PC, gaming and data center product lines. Cryptocurrency mining is “a nice growth factor, but it’s not a dominant growth factor,” Su told CNBC. Although blockchain is important, it’s not the core focus right now, Su said, adding that it’s “a bit of a distraction.”
The chipmaker beat first-quarter earnings estimates, and its shares jumped more than 11 percent in after-hours trading, CNBC noted. Read more here.