In Q2, the chipmaker's data center revenue grew just 14% year over year, versus 57% in Q1, due to the export controls that prevented the sale of its AI-enabling GPU chips to China.

Citi maintained its Neutral rating on AMD (AMD) after a reported deal to give 15% of revenues from Chinese AI chips sales to the U.S. in exchange for export licenses.

“While AMD has made significant progress, we view Nvidia hardware as generally ahead by 0.5-1 year, particularly in the system/rack approach, where AMD currently has no experience of building in large scale,” wrote BofA Securities analyst Vivek Arya in research note on Wednesday. He rates AMD stock at Buy with a $200 price target.