Advanced Micro Devices has projected a robust performance for the remainder of the year, primarily driven by the upcoming launch of their artificial intelligence chips. These chips are expected to compete directly with Nvidia’s semiconductors.
Following the announcement, AMD’s shares saw a rise of approximately 3% during after-hours trading.
Lisa Su, the CEO of AMD, announced plans to increase production of their flagship MI300 AI chips in the fourth quarter. These chips, which are currently in high demand, aim to rival Nvidia’s advanced H100 chips that are already on the market.
Su stated that there is significant interest from customers in the MI300 series chips, and AMD has expanded its collaborations with top-tier cloud providers, large enterprises, and leading AI companies throughout the third quarter.
Investors are optimistic that the upcoming release of MI300 chips will position AMD as a strong contender in the rapidly growing market for advanced AI chips.
Notably, the MI300 chips currently exceed the performance limits allowed for sale to China under export controls issued in October. Unlike Nvidia and Intel, AMD has not yet developed specialised chips for the lucrative Chinese market.
