AMD Forecasts $2 Billion in Sales for AI Chip to Compete with Nvidia

📆 10/31/2023 10:48 PM
📰 globeandmail

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AMD,Chip,Sales Forecast

Advanced Micro Devices (AMD) predicts $2 billion in sales in 2024 from its chip designed to rival Nvidia in the AI market, helping shares recover after a disappointing quarterly outlook. The chip, called MI300X, aims to loosen Nvidia's dominance in the data centre AI chip market.

Chip designer Advanced Micro Devices on Tuesday forecast $2-billion in sales in 2024 from a chip that aims to compete with Nvidia in the artificial intelligence market, helping shares recover after a quarterly outlook missed expectations.

During a call with investors, AMD Chief Executive Lisa Su said that “multiple, large hyperscale customers” had committed to using MI300 chips, using a term that commonly refers to large tech and cloud computing companies. While the PC market is in recovery mode, demand for programmable chips used by industries such as wireless communications, health care and automotive has slowed down.

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