AMD shares are down about 6% in 2024, even though the company is the second-largest vendor of data center GPUs after Nvidia .
Investors want to see AMD take market share away from its longtime rival Nvidia with its MI300X AI chip and signal growth in its data center AI business.
Earlier this year, AMD said it expected $4 billion in AI chips sales this year, or about 15% of the company's expected sales.
AMD AI chip sales are reported in the company's Data Center segment, which grew 115% year-over-year to $2.8 billion, driven by an increase in AI GPU shipments, AMD said.
Sales for PCs are reported in the company's Client segment, which rose 49% year-over-year to $1.5 billion, versus expectations of $1.43 billion from Street Account.
Persons:
Lisa Su, Ryan Patel, Travis P, Su
Organizations:
SXSW, Austin Convention Center, Getty, Devices, AMD, Nvidia, company's, Data
Locations:
Austin , Texas