Arm Holdings Plc (NASDAQ:ARM) shares are trading higher Wednesday in sympathy with Advanced Micro Devices, Inc. (NASDAQ:AMD), which jumped after reporting strong financial results for the second quarter. What Happened With AMD: AMD reported second-quarter revenue of $5.835 billion, beating analyst estimates of $5.724 billion. The chipmaker reported adjusted earnings of 69 cents per share, beating analyst estimates of 68 cents per share. "We delivered strong revenue and earnings growth in the second quarter driven by record Data Center segment revenue. Our AI business continued accelerating and we are well positioned to deliver strong revenue growth in the second half of the year led by demand for Instinct, EPYC and Ryzen processors," said Lisa Su, chair and CEO of AMD. "The rapid advances in generative AI are driving demand for more compute in every market, creating significant growth opportunities as we deliver leadership AI solutions across our business." AMD said it ...