AMD just announced its second quarter 2024 earnings today, and the highlight was this: nearly half the company’s sales are now data center products — not chips for personal computers, not game consoles, not embedded chips for industry or vehicles. The company’s data center business has doubled in a single year, and this quarter’s growth was primarily due to a single chip: the AMD Instinct MI300 accelerator, which competes with Nvidia’s infamously influential H100 AI chip.
As far as today’s MI300, Su says she’s still selling as many as AMD can make. Despite supply chain improvements, “supply will remain tight through 2025.” Nvidia has a tremendous headstart over AMD, and despite doubling this year, AMD’s data center business is a tiny fraction of the size of Nvidia’s — $2.8 billion in a quarter vs. $22.6 billion in a quarter for Nvidia, which also just had record results in data center.