Match Group announced on Tuesday that Zillow co-founder Spencer Rascoff will serve as its new CEO.

Rascoff, who has served as a member of the online dating company’s board since March 2024, will replace Bernard Kim in the role, Match said.

“During his time on the Board, Spencer has demonstrated a strong strategic perspective and deep understanding of Match Group’s brands and opportunities,” said Match Group Chairman Tom McInerney, in a statement. “We are confident in his ability to drive the company’s next phase of innovation and growth.”

Along with the leadership change, Match announced better-than-expected fourth-quarter results but lackluster guidance. Match posted earnings per share of 59 cents on $860 million in revenue. That topped the 54 cents per share in earnings and $859 million in revenue expected by analysts polled by LSEG.

However, the parent of Tinder and Hinge issued disappointing revenue guidance for the first quarter. The company forecast sales of $820 million to $830 million for the quarter, falling short of the $853 million estimate from LSEG.

The shares sank 7% in extended trading after the report.

Rascoff, 49, is best known for his role at Zillow. He co-founded the real estate technology company nearly two decades ago and served in various roles, including CEO, before departing in 2019. The Harvard University graduate also founded online travel website Hotwire, which Expedia bought for nearly $700 million in 2003.

Match was fully spun out of Barry Diller’s IAC Group in 2020, but has had a tough run as an independent public company. Its market cap was about $30 billion at the time of the transaction and has since shrunk below $10 billion, reflecting a dramatic slowdown in revenue growth.

Last month, IAC said its board approved the spinoff of Angi, the home improvement market place the company acquired in 2017.

WATCH: How I built my $400 million-a-year dating app Hinge

Advanced Micro Devices reported fourth-quarter results on Tuesday that beat Wall Street expectations for sales and earnings, but the stock fell about 6% in extended trading as the company missed estimates in its key data center segment.

Here’s how the chipmaker did, versus LSEG consensus estimates for the quarter ended Dec. 28:

• Earnings per share: $1.09, adjusted, versus $1.08 expected
• Revenue: $7.66 billion versus $7.53 billion

AMD said it expects $7.1 billion in sales in the first quarter, plus or minus $300 million. It projected its gross margin to be about 54%. Analysts expected AMD to guide for revenue of $7 billion.

AMD reported $482 million in net income, or 29 cents per share, for the fourth quarter, down from $667 million, or 41 cents per share in the year-ago period.The company’s adjusted earnings per share excluded items such as acquisition costs, inventory loss at contract manufacturers, and restructuring charges.

Su told investors on an earnings call that AMD believes it will report “strong double-digit percentage revenue and EPS growth” in 2025.

The company’s most important unit is its business selling chips for data centers, which has been growing in recent quarters, thanks to demand for its graphics processing units for artificial intelligence.

AMD reported $3.86 billion in data center sales, which was up 69% on a year-over-year basis. The company said the increase was due to sales both in its Instinct GPUs and its EPYC CPUs, which compete with Intel’s processors.

However, analysts polled by FactSet were predicting $4.14 billion in data center sales during the quarter.

For the full year, AMD’s data center division revenue increased 94% to $12.6 billion. AMD said that $5 billion of those sales were from its Instinct GPUs for AI.

While AMD is far behind market leader Nvidia, it’s released competitive data center GPUs in recent years such as the MI300X, that some big infrastructure buyers, including Meta and Amazon, have embraced.

“We believe this places AMD on a steep long-term growth trajectory, led by the rapid scaling of our data center AI franchise from more than $5 billion of revenue in 2024 to tens of billions of dollars of annual revenue over the coming years,” Su said on the earnings call with analysts.

AMD categorizes its chips for PCs, laptops, and other individual computers as client revenue, which increased 58% on an annual basis to $2.3 billion. AMD said both its chips for desktops as well as mobile computers such as laptops are seeing strong demand.

AMD is also the second-largest producer of GPUs for gaming, behind Nvidia. Revenue in the segment declined 59% to $563 million. The company’s other small division, embedded chips, reported $923 million in sales, down 13% year-over-year.

WATCH: AMD beats on Q4 results

Alphabet CEO Sundar Pichai said the company is planning another big year of spending as it continues to build out its artificial intelligence offering.

“We are confident about the opportunities ahead, and to accelerate our progress, we expect to invest approximately $75 billion in capital expenditures in 2025,” Pichai said in Tuesday’s earnings release announcing the investment plan.

The capex figure came in ahead of the $59.73 billion consensus estimate for Google, according to Visible Alpha.

On its earnings call, Alphabet said it expects $16 billion to $18 billion of those expenses to come in the first quarter. Overall, the expenditures will go toward “technical infrastructure, primarily for servers, followed by data centers and networking,” finance chief Anat Ashkenazi said.

Alphabet’s announcement came alongside a mixed fourth-quarter earnings report. Shares fell 8% after the company topped Wall Street’s earnings estimates by 2 cents per share, but fell short on revenue expectations.

Alphabet and its megacap tech rivals are rushing to build out their data centers with next-generation AI infrastructure, packed with Nvidia’s graphics processing units, or GPUs. Last month, Meta said it plans to invest $60 billion to $65 billion this year as part of its AI push. Microsoft has committed to $80 billion in AI-related capital expenditures in its current fiscal year.

The recent rise of China’s DeepSeek open-source models has led to some concerns about whether companies need to invest as heavily in their buildouts. Those fears rocked financial markets early last week, spurring a sell-off that contributed to the worst one-day market value loss for a company in history.

Many technology CEOs have called attention to the Chinese startup and its implications for U.S.-based tools. Microsoft CEO Satya Nadella said DeepSeek is showing “real innovations,” while Palantir CEO Alex Karp told CNBC last week that competing AI models means the U.S. needs an “all-country effort” to develop the technology faster.

In addition to infrastructure purchases, Alphabet said it expects headcount growth in 2025 “in key investment areas such as AI and cloud.”