Options Market Statistics: AMD Stock Jumps More Than 9% on Strong 2024 AI Chip Projections, Options Pop

Elon Musk has revealed more details about Tesla's Cybertruck, including a "beast mode" version and plans to make 200,000 of the electric pickup trucks a year.

The Tesla CEO said the electric-vehicle maker will offer a "beast mode" version of the Cybertruck that can go from 0 to 60 mph in under three seconds, on the Joe Rogan Experience podcast released Tuesday. There will also be an option for customers to buy bulletproof glass along with the standard bulletproof steel panels, he added.

But Musk also emphasized that manufacturing the vehicle would be "much, much harder" than the initial design process.

In a shareholder presentation last month, Tesla said its Texas factory had the capacity to make 125,000 units a year, while Musk said the company hoped to reach 250,000 annually by 2025.

Advanced Micro Devices late Tuesday reported stronger-than-expected third-quarter results, while the chipmaker issued a downbeat revenue guidance for the ongoing three-month period.

Adjusted per-share earnings rose to $0.70 for the three months ended Sept. 30 from $0.67 a year earlier, compared with the consensus on Capital IQ for $0.68. Revenue increased 4% to $5.80 billion, above the Street's $5.69 billion view.

The client division's revenue surged 42% to $1.45 billion due to higher Ryzen mobile processor sales, AMD said. Gaming sales declined 8% to $1.51 billion, while the embedded segment fell 5% to $1.24 billion amid a decrease in the communications market's revenue.

Data center revenue edged lower to $1.6 billion in the third quarter from $1.61 billion a year earlier as growth in EPYC central processing unit sales was offset by a decline in adaptive system-on-chip products, AMD said.

The company expects fourth-quarter revenue of about $6.1 billion, plus or minus $300 million. The mid-point of the range implies year-over-year growth of 9%, the company said. The consensus on Capital IQ is for $6.39 billion. Adjusted gross margin is forecast at about 51.5%, compared with a 51% rate reported for the third quarter.