CONNECT WITH US
AI & Deeptech

AI & Deeptech

AMD forecasts quarterly revenue above estimates as data-center growth accelerates

IndiaTimes (ET) - AI logo

Published on

Add as a preferred source on Google
AMD forecasts quarterly revenue above estimates as data-center growth accelerates

Business News Tech AI AMD forecasts quarterly revenue above estimates as data-center growth accelerates

The company, which nearly doubled its data-center revenue in the third quarter, is benefiting as a shift in AI workloads toward running models in real-world applications drives demand for its graphics processing units and central processors. This has enabled AMD to capture market share from rival Intel, which last week forecast quarterly revenue well below estimates and triggered a global selloff in chip stocks.

AMD forecast fourth-quarter revenue above Wall Street estimates on Tuesday, buoyed by strong demand for its chips as its multibillion-dollar effort to challenge Nvidia's dominance of the AI semiconductor market gains momentum. The company, which nearly doubled its data-center revenue in the third quarter, is benefiting as a shift in AI workloads toward running models in real-world applications drives demand for its graphics processing units and central processors. This has enabled AMD to capture market share from rival Intel, which last week forecast quarterly revenue well below estimates and triggered a global selloff in chip stocks.

23 billion, according to data compiled by LSEG. 27% and down from 56% in the third quarter. Shares of the company, which briefly entered the $1 trillion market capitalization club, have more than doubled so far this year. AMD has stepped up AI product rollouts, moving beyond standalone chips to compete with Nvidia's rack-scale systems. The company's flagship Helios rack, combining its MI455X accelerator and new "Venice" server chips, is in production and set for a larger ramp-up in the fourth quarter.


Source link
Related Topics:AI & Deeptech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.