Read Also: Tesla Q2 Earnings Highlights: Revenue Beat, EPS Miss, Robotaxi Update, 2024 Growth Rate To Be ‘Notably Lower’ Than 2023 Why It's Important: AMD is one of several semiconductor companies operating in the automotive space. The company offers products for automobiles that include driver monitoring systems, in-cabin monitoring systems, driver information and more. In January, Tesla CEO Elon Musk said the electric vehicle company planned to purchase chips from AMD to advance its artificial intelligence efforts. The comment came as Tesla also spent $500 million to buy hardware from NVIDIA Corp NVDA . The automotive sector is one of the fastest growth sectors for semiconductor companies with Qualcomm Inc QCOM and others seeing strong year-over-year growth and bookings. AMD doesn't break out its automotive revenue like others in the sector, making it harder to see the impact, according to The Registar. The Registar highlighted new automotive related products from AMD back in January as the company looks to grow in the sector. While Su's appearance with Tesla is likely just part of a speaking engagement, it could come with more partnerships in the future or serve as a reminder to investors that Tesla and AMD are already partners. AMD Price Action: AMD shares closed Wednesday down 6.08% to $144.63 on Wednesday versus a 52-week trading range of $93.12 to $227.30. AMD shares are up over 30% in the last year, but now down 1.5% year-to-date in 2024, as seen on the Benzinga Pro chart below. AMD will report second-quarter results on July 30 after market close. Analysts expect the company to report revenue of $5.73 billion and earnings per share of 68 cents compared to $5.36 billion and 58 cents, respectively, in last year's second quarter. Read Next: