AMD forecasts challenger to Nvidia AI chip for 4th quarter, eyes China AI market

:Advanced Micro Devices on Tuesday forecast a strong fourth quarter driven by the planned launch of artificial-intelligence chips that could compete with Nvidia chips, with the company's CEO saying it sees an"opportunity" to sell its AI chips in China.AMD CEO Lisa Su said AMD is set to ramp production of its MI300 artificial-intelligence chips in the fourth quarter.

AMD's flagship chips exceed the performance limits for sale to China under U.S. export control rules issued last year, and unlike Nvidia and Intel, the company has not yet created special chips for the Chinese market. On a conference call with investors, Su said that AMD sees sales potential in China's AI market.

Jenny Hardy, portfolio manager at GP Bullhound, which owns Nvidia and AMD stock, said that Nvidia still faces supply constraints, leaving an opening for AMD's chip.

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AMD forecasts third-quarter revenue below estimatesAdvanced Micro Devices forecast third-quarter revenue below market expectations on Tuesday, hit by a slowdown in cloud computing spending. The company forecast current-quarter revenue of about US$5.7 billion, plus or minus US$300 million. Analysts polled by Refinitiv expect revenue of US$5.82 billion.
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