Advanced Micro Devices stock rose 13.3% this week after reporting $5.8 billion in data center revenue, up 57% in the first quarter.

AMD's overall revenue grew 38% to $10.25 billion in Q1, with data center sales rising 57% to $5.8 billion, driving the majority of the company's growth.

AMD signed a partnership with Meta Platforms to deploy one gigawatt of supply in the second half of the year, and has secured contracts across its supply chain.

AMD expects 46% revenue growth in the second quarter and anticipates continued demand through the year, though the stock trades at a price-to-sales ratio of 18 and price-to-earnings ratio of 134 at a market cap of $660 billion.