Advanced Micro Devices shares fell on Wednesday after the chipmaker under-delivered on Wall Street's estimates for its important data center business.

AMD says that it plans to launch its next major data center GPUs, the AMD Instinct MI350 series, sooner than originally planned.

Advanced Micro Devices failed to impress investors waiting for the chipmaker to gain ground against AI heavyweight Nvidia , even as its quarterly results and revenue outlook exceeded analyst estimates on Tuesday.