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☆ Morgan Stanley Wealth Management adds this stock to its model portfolio because of A.I. opportunity
▼ + stars: | 2023-08-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Chipmaker Advanced Micro Devices is an "emerging growth opportunity" in artificial intelligence, according to Morgan Stanley Wealth Management. Investment strategist Daniel Skelly said he added the chipmaker to the firm's equity model portfolio. He noted that AMD is "a leader in chip end markets with potential AI tailwinds." "We viewed AMD's 2Q23 print constructively as management indicated improving business conditions into the second half of the year," Skelly said. "With data center revenue growth troughing, we believe investors should look through to a 2024 inventory re-build that is supported by tailwinds from AI."

Persons: Morgan, Daniel Skelly, Skelly, — CNBC's Michael Bloom Organizations: Devices, Morgan Stanley Wealth Management . Investment, AMD, Intel

☆ Nvidia unveils an update to a new A.I. chip that hasn't even shipped yet — an aggressive move to keep its crown
▼ + stars: | 2023-08-09 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

"No one is coming for Nvidia on AI, period, any time soon," Stifel analyst Ruben Roy told CNBC in an interview Wednesday. The new version of Grace Hopper primarily delivers improvements in memory capacity and bandwidth compared with the first-generation product. In practice, improving the memory capacity and bandwidth of the Grace Hopper Superchip should help AI applications run more efficiently and smoothly. Volume production of the improved Grace Hopper Superchip is expected in the second quarter of 2024, according to Nvidia. Open-source software Nvidia's closed-source CUDA software platform – along with a library of pre-trained AI models — has helped establish the company's AI dominance.

Persons: it's, Grace Hopper Superchip, Ruben Roy, Grace Hopper, ChatGPT, Roy, Hopper, Nvidia, Pat Gelsinger, Nvidia's, Omniverse, Jim Cramer, Nvidia hasn't, Jim, enabler —, Jim Cramer's, Jensen Huang, Walid Berrazeg Organizations: Nvidia, Club, Devices, CNBC, Microsoft, Bank of America, AMD, Nvidia DGX, Intel, BMW, Computer, Getty Locations: Taipei

☆ Here are the 5 price-target changes and 4 trades we made during this busy earnings week
▼ + stars: | 2023-08-04 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

In a jam-packed week of earnings, the Club executed multiple trades and elevated price targets for some of our biggest stocks. Following AMD's better-than-feared Q2 release late Tuesday, we raised our price target on the stock to $135 per share from $120. Wednesday On this relatively calm day, we reiterated our 1 rating and $110 price target on shares of Emerson Electric (EMR). Against this bullish backdrop, we raised our price target on Amazon to $160 per share, up from $140. Our previous price target was $185.

Persons: Here's, Johnson, Stanley Black, Decker, Jim Cramer, AMD's, Emerson, —, it's, Eli Lilly, LLY, Walt Disney, We'll, Jim Cramer's, Jim, Jim Cramer Rob Kim Organizations: Club, Microsoft, GE Healthcare, GE, Honeywell International, Caterpillar, Devices, Honeywell, Turnaround, AMD, Emerson Electric, National, Big Tech, Apple, Coterra Energy, Wynn Resorts, WYNN, Jim Cramer's Charitable, CNBC Locations: MSFT, GEHC, Missouri

☆ AMD looks to ramp up A.I. chip to rival Nvidia
▼ + stars: | 2023-08-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAMD looks to ramp up A.I. chip to rival NvidiaCNBC's Arjun Kharpal breaks down AMD's second-quarter earnings and the company's big play in the artificial intelligence space with its latest chip.

Persons: Nvidia CNBC's Arjun Kharpal Organizations: Nvidia

☆ Wall Street analysts are conflicted on AMD after its earnings
▼ + stars: | 2023-08-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

AMD may be nearing the end of its rally, according to some Wall Street analysts. Following the earnings report, Bank of America reiterated its neutral rating on the stock while lifting its price target by just $2 to $132. Although the firm raised its price target to $115 from $110, it still remains 2.2% below Tuesday's close. We also thought investors would eventually tire of the expensive valuation of AMD stock and we were wrong on that count as well. AMD shares gained 1.2% Wednesday during premarket trading.

Persons: Vivek Arya, Harlan Sur, Sur, Ross Seymore, Goldman Sachs, Toshiya Hari, Morgan Stanley, doesn't, Joseph Moore, Moore, Christopher Danely, Danely, —, Michael Bloom Organizations: AMD, Bank of America, JPMorgan, Deutsche Bank, Data, Citi Locations: 2H23

☆ AMD forecast, U.S. credit downgrade drags down chip stocks
▼ + stars: | 2023-08-02 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

AMD Chair and CEO Lisa Su speaks at the AMD Keynote address during the Consumer Electronics Show (CES) on January 4, 2023 in Las Vegas, Nevada. Chip stocks dipped Wednesday, after AMD 's disappointing revenue forecast raised concern that fragility in the PC market and slower spending from businesses may be poised to continue. Marvell fell almost 6%, Nvidia slid close to 5% and Intel and Texas Instruments each declined more than 3%, falling more than the broader tech market. At the same time, the company said a "weaker PC market" dragged second-quarter revenue down 54% in its client segment. Semiconductor companies led a decline in tech stocks, as the market was hit by Fitch Ratings' downgrade of the United States' long-term foreign currency issuer default rating from AAA to AA+.

Persons: Lisa Su, Marvell, Fitch, CNBC's, Jefferies Organizations: AMD, Consumer Electronics, Nvidia, Intel, Texas, Semiconductor, Fitch, AAA, AA, Nasdaq Locations: Las Vegas , Nevada, United States

☆ AMD shares fall as analysts worry AI chip targets may be ambitious
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +2 min

The logo of semiconductor company Advanced Micro Devices Inc (AMD) is seen on a graphics processing unit (GPU) chip in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/IllustrationAug 2 (Reuters) - Advanced Micro Devices's (AMD.O) shares fell about 6% on Wednesday as analysts raised concerns that the chip designer's targets for an artificial intelligence (AI) ramp-up may be too ambitious. "Unless numbers get really material, soon, we fear estimates remain too high and the stock (AMD) looks a little stretched to us," Bernstein analysts wrote in a note. Summit Insights Group analyst Kinngai Chan said investors were giving AMD a pass hoping for a bigger AI payday. "The Bulls want AMD to be the next concept stock... the Bears say show me the results and make me believe the AI hype."

Persons: Florence Lo, Fitch, Bernstein, Kinngai Chan, Akash Sriram, Chavi Mehta, Devika Organizations: Devices Inc, REUTERS, Philadelphia, Semiconductor, Nvidia, AMD, Refinitiv, Bulls, Bears, Thomson Locations: Philadelphia, Bengaluru

☆ AMD is the 'only viable alternative' to Nvidia's high-tech chips, financial services firm says
▼ + stars: | 2023-08-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAMD is the 'only viable alternative' to Nvidia's high-tech chips, financial services firm saysRuben Roy, managing director of equity research at Stifel, discusses AMD's earnings and its outlook for growth, and says the company is investing "quite aggressively" in artificial intelligence.

Persons: Ruben Roy Organizations: AMD

☆ Here's the trade on AMD ahead of earnings, according to top analysts
▼ + stars: | 2023-08-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

AMD YTD mountain AMD year to date Analysts are expecting AMD's fiscal second-quarter revenue to come in at $5.32 billion, per StreetAccount. While recent results have been disappointing , AMD has embraced the AI story as investors look for the next Nvidia , he said. It has a hold rating and $110 price target, implying nearly 4% downside from Monday's close. Its $138 price target suggests nearly 21% upside ahead. TD Cowen is also bullish, maintaining its outperform rating and raising its price target to $135 from $115.

Persons: Lisa Su, Bernstein, Stacy Rasgon, Rasgon, Morgan Stanley, Joseph Moore, Cowen, Michael Bloom Organizations: AMD, Global, IDC, Nvidia, Deutsche Bank

☆ Wall Street looks past AMD's light guide, leading us to make a price target change
▼ + stars: | 2023-08-01 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Club name Advanced Micro Devices (AMD) delivered better-than-expected second-quarter results after the closing bell Tuesday, leading us to make a price target change. Revenue fell 18% year over year to $5.36 billion but outpaced the Street's expectation of $5.31 billion, according to estimates compiled by Refinitiv. Wall Street seems to think so as well, bidding up the chipmaker's stock in after-hours trading by more than 2%. The MI300A is designed to address High-Performance Computing (HPC) and AI workload needs, while the MI300X is designed specifically for generative AI applications. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: we're, —, Jim Cramer's, Jim Cramer, Jim, Lisa Su, Robyn Beck Organizations: Devices, Revenue, Refinitiv, AMD, Management, Club, Nvidia, Data, PlayStation, Vision, Healthcare, Automotive, CNBC, Consumer Electronics, Afp, Getty Locations: Las Vegas , Nevada

☆ AMD reports better-than-expected results even as PC market shows continued weakness
▼ + stars: | 2023-08-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

Here's how the company did:Earnings : 58 cents per share, adjusted, versus 57 cents per share expected by Refinitiv consensus estimates. For the third quarter, AMD said it expects $5.7 billion in sales, while analysts were looking for revenue of $5.81 billion. "Our goal is to make this a significant growth driver for AMD," Su said. AI could also help PC chip sales, AMD said. During the quarter, AMD announced a new chip that's intended to build and run the kind of AI models that are at the heart of applications like ChatGPT.

Persons: Lisa Su, Su Organizations: AMD, Data Center, Intel, Microsoft Locations: Vegas, Las Vegas , Nevada

☆ Bernstein's Stacy Rasgon breaks down what to expect from AMD upcoming earnings report
▼ + stars: | 2023-08-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBernstein's Stacy Rasgon breaks down what to expect from AMD upcoming earnings reportStacy Rasgon, Bernstein Research, joins 'Closing Bell' to discuss AMD's shares ticking up ahead of its earnings report.

Persons: Bernstein's Stacy Rasgon, Stacy Rasgon Organizations: AMD, Bernstein Research

[1/2] FILE PHOTO-A smartphone with a displayed AMD logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoGANDHINAGAR, India, July 28 (Reuters) - U.S. chipmaker Advanced Micro Devices (AMD.O) said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. Despite being a late entrant, the Modi government has been courting investments into India's nascent chip sector to establish its credentials as a chipmaking hub. "Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide," Papermaster said. Unlike its top rival Intel, AMD outsources production of chips it designs to third-party manufacturers like Taiwan's TSMC.

Persons: Dado Ruvic, Mark Papermaster, Narendra Modi's, Young Liu, Sanjay Mehrotra, Modi, Papermaster, Munsif, Aditya Kalra, Sonali Paul Organizations: REUTERS, Devices, Micron, AMD, India, Nvidia Corp, Intel, South, Samsung, Applied, chipmaker Micron, Thomson Locations: GANDHINAGAR, India, Bengaluru, Gujarat, Santa Clara , California, U.S, Gandhinagar

☆ Here's why this AI chipmaker continues to outflank the competition
▼ + stars: | 2023-07-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

"But when we go to an AI server, Intel's contribution drops to low-single digit percent, and that's where Nvidia's contribution gets to almost 60%, 70% of the price of the server." Still, it's possible AMD also saw softer demand for its data-center CPUs in the last quarter due to ramped-up AI spending. Like Intel, AMD is also working to bring its own AI-focused chips to market . Yes, Nvidia stock has had a monster run, more than tripling year-to-date, but the fundamental reason for that outperformance — its AI dominance — is completely intact. It remains an "own it, don't trade" stock, alongside Apple (AAPL).

Persons: Pat Gelsinger, —, Vivek Arya, Arya, Intel's, Lisa Su's, Gelsinger, AMD's, Jim Cramer's, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Intel, Nvidia, Club, — Club, Microsoft, CNBC, Bank of America, Devices, AMD, Apple, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: China, Los Angeles , California, U.S

☆ Nvidia wins again — plus two more takeaways from this week's mega-cap earnings
▼ + stars: | 2023-07-26 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

It was also one of several conclusions we made combing through the results and listening to the conference calls with investors. We are basically looking for results or management commentary that speaks to peer companies or the industry as a whole. On the call, management said it was "to support cloud demand, including investments in AI infrastructure." What is increased AI spending going to do for Meta's engagement and Reels monetization efforts? Nvidia chief Jensen Huang (centre L) poses for photographs before attending a press conference at Computex 2023 in Taipei on May 30, 2023.

Persons: it's, Sundar Pichai, We're, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Sam Yeh Organizations: Microsoft, Nvidia, Google, AMD, Intel, Jim Cramer's Charitable, CNBC, Afp, Getty Locations: Taipei

☆ Wall Street is bullish on Big Tech heading into earnings — here's what we think
▼ + stars: | 2023-07-18 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Wall Street kicked off the week with bullish takes on several high-flying tech stocks in the portfolio — validating our decision to stick with these mega-caps heading into quarterly earnings. It's also important to understand that some price target raises are just chasing a big move, and that the price reaction to an earnings release has less to do with the results and much more to do with expectations. It's also why Citigroup also put AMD on a "negative catalyst watch," meaning it is negative on the stock heading into earnings. In the analysts' view, Apple has an opportunity to grow its revenue by seven times in the U.S. over the next decade to about $40 billion, while adding 170 million new users. Microsoft What the analysts say: Analysts at Mizuho reiterated their buy rating on Microsoft while taking up their price target to $390 from $360.

Persons: bullish, Meta, It's, CUDA, Morgan Stanley, we're, —, Jim Cramer, monetize, Jim Cramer's, Jim, Jensen Huang, Sam Yeh Organizations: Nvidia, Apple, Microsoft, Devices, Citigroup, AMD, Intel, Mizuho, Activision Blizzard, JMP Securities, Jim Cramer's Charitable, CNBC, Afp, Getty Locations: U.S, China, India, Taipei

To help you score all the best Prime Day discounts, we're rounding up all of the best Prime Day PC gaming deals. Top 7 Prime Day PC gaming dealsThe best Prime Day gaming laptop dealsGaming laptops are down to low prices for Prime Day. $1,999.99 from Amazon Originally $3,199.99 Save 38%The best Prime Day gaming desktop dealsYou can snag great gaming desktops with powerful hardware at a discount on Prime Day. $1,259.99 from Amazon Originally $1,399.99 Save 10%The best Prime Day gaming monitor dealsAmazon's Prime Day sale includes big deals on gaming monitors from HP, LG, and more. $169.99 from Amazon Originally $249.99 Save 32%The best Prime Day gaming headset dealsGaming headsets are seeing great Prime Day discounts right now.

Persons: Marti Bug, That's, DisobeyArt, it'll, William Antonelli, Price Razer, Price Organizations: Amazon, ASUS, Intel, Razer, Getty, HP, LG, DC, Nvidia, AMD, Prime, Asus, Logitech, PlayStation, Amazon's, Price Logitech, Lightspeed, Bluetooth, Samsung, titans

☆ Here are Wednesday's biggest analyst calls: Nvidia, Tesla, DraftKings, Amazon, Netflix, TJX and more
▼ + stars: | 2023-07-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

TD Cowen reiterates Nvidia as outperform TD Cowen said it's standing by its outperform rating on the stock. Bank of America upgrades DraftKings to buy from neutral Bank of America upgraded the fantasy sports company due to a margin inflection. Citi reiterates Tesla as neutral Citi said it's "neutral to slightly negative" on Tesla heading into earnings next week. Bank of America upgrades Stellantis to buy from neutral Bank of America said in its upgrade of the European automaker that it sees valuation upside. Bank of America downgrades Cisco to neutral from buy Bank of America said in its downgrade of Cisco that consensus estimates are too high.

Persons: TD Cowen, Cowen, it's, Oppenheimer, Baird, Locker, underperformed Ford, JPM, YTD, Holley, Tesla, Raymond James, SunPower, it's bullish, Morgan Stanley, Lazard, Davidson downgrades Redfin, Davidson Organizations: Nvidia, NVIDIA, Nasdaq, AMD, Companies, Citi, General Motors Citi, Watch, GM, JPMorgan, Bank of America, of America, UBS, Netflix, Tech, Cisco, AstraZeneca Locations: China, California

☆ New IT spending survey bodes well for 7 tech stocks in A.I. to cloud to cybersecurity
▼ + stars: | 2023-07-12 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Analysts at Morgan Stanley published the results of their second-quarter CIO survey, providing valuable insight into information technology budget expectations. Cloud and cybersecurity Digging a bit deeper, the survey reveals that cloud computing and security software remain the top two priorities for CIOs followed by artificial intelligence/machine learning. The analysts singled out Microsoft as the most exposed to the two major themes of the survey — generative AI via ChatGPT and cloud consumption via Azure. Cloud and AI enablers All of this also bodes well for the names that make cloud computing, generative AI, and LLMs possible. Importantly, the demand is not only coming from cloud service providers (CSPs) but also from enterprise players and AI startups.

Persons: Morgan Stanley, Bard, Dell, Salesforce, Jim Cramer's, Jim Cramer, Jim, Bing, Jonathan Raa Organizations: Microsoft, Google, Web Services, Club, Software, Hewlett Packard Enterprise, Palo Alto Networks, Alto, Nvidia, Devices, AMD, CNBC, Nurphoto, Getty

Below, you'll find our live coverage of all of the best Prime Day deals on sought-after gaming laptops, PCs, consoles, SSDs, headsets, and more. Amazon gaming deal quick links:Prime Day gaming laptop dealsDeal icon An icon in the shape of a lightning bolt. $999.00 from Walmart Originally $1,649.00 Save 39%Prime Day gaming PC dealsDeal icon An icon in the shape of a lightning bolt. $1,029.99 from Amazon Originally $1,079.99 Save 5%Prime Day SSD dealsDeal icon An icon in the shape of a lightning bolt. $469.99 from Amazon Originally $599.99 Save 22%Prime Day Nintendo Switch dealsDeal icon An icon in the shape of a lightning bolt.

Persons: That's, they're, Price, 4TB, it’s, it's, It's, we've, Price Razer, SteelSeries, Price Hori, Con, Ed, it'll, Price LG, Price Dell, You'll, Zelda Organizations: Amazon, ASUS, Intel, AMD, Razer, Walmart, Asus, Nvidia, Prime, SK, SK Hynix, Deal SK hynix, Samsung, PlayStation, Seagate, Toshiba, Price Samsung, Price Logitech, Logitech, Bluetooth, Wired, Meta, Amazon Deal, Gray, Super Nintendo Entertainment, Duo, Stratus, Nintendo, Lightspeed, Apex, Monitor Samsung, LG Locations: it's

Amazon Prime Day is here, and that means exclusive Prime Day discounts on thousands of products, including gaming PCs, headsets, and monitors. To help you score all the best Prime Day discounts, we're rounding up all of the best Prime Day PC gaming deals. Top 4 Prime Day PC gaming dealsThe best Prime Day gaming laptop dealsGaming laptops are down to low prices for Prime Day. $1,259.99 from Amazon Originally $1,399.99 Save 10%The best Prime Day gaming monitor dealsAmazon's Prime Day sale includes big deals on gaming monitors from HP, LG, and more. $169.99 from Amazon Originally $249.99 Save 32%The best Prime Day gaming headset dealsGaming headsets are seeing great Prime Day discounts right now.

☆ Morgan Stanley says we are entering a golden age of technology because of A.I. and gives some top stocks to play it
▼ + stars: | 2023-07-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Morgan Stanley offered up some of its top ways to play artificial intelligence as the technology enters a "golden age." But even after those significant surges, Morgan Stanley thinks the tailwinds are far from over. Given this setup, Morgan Stanley analysts highlighted 37 stocks as global AI winners with a combined market capitalization of $2.8 trillion. To compile the list, Morgan Stanley searched for areas of the tech supply chain situated for the strongest AI revenue exposure. Morgan Stanley expects the company's dominance to continue in the foreseeable future, calling it the "cleanest story" within AI hardware.

Persons: Morgan Stanley, — CNBC's Michael Bloom Organizations: Nvidia, Meta, Devices, Marvell Technology, Taiwan Semiconductor Manufacturing, U.S, Dell Technologies Locations: U.S, Taiwan, Korea, Europe

☆ These are the best stocks to own in the second half, according to Rosenblatt Securities
▼ + stars: | 2023-07-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Rosenblatt Securities is looking toward the second half of the year for investors. Our price target of $200 is supported by a mid-20s P/E on earnings power of over $6.00," the note said. NVDA AMD YTD mountain Both AMD and Nvidia have benefited from the explosion in artificial intelligence so far this year. In media and entertainment, Lions Gate Entertainment class B stock made the Rosenblatt list with a $17 per share price target. Rosenblatt is also eyeing broadband company Harmonic , with a $22 per share price target that implies about 35% upside.

Persons: Rosenblatt, Rosenblatt's Michael Kiernan, Barton Crockett Organizations: Securities, AMD, Nvidia, Galaxy, Toronto Stock Exchange, Lions, Entertainment

The S & P 500 rose 8.3% in the second quarter to extended its 2023 advance to 15.9%. Here's a closer look at the Club's best and worst performers in the first half of 2023, starting with the four winningest stocks. West Texas Intermediate crude ended the second quarter under $71 per barrel, about $10 below where it started the year. Humana (HUM) dropped 12.7% in the first half of 2023, rounding out the bottom-four Club stocks between January and June. The common denominator among the worst-performing Club stocks is a bit less obvious than with the winners.

Persons: It's, Dow, Here's, Mark Zuckerberg, Palo, Lisa Su, —, Eli Lilly, Locker, Foot Locker's, Estee Lauder, Estee, Halliburton haven't, encouragingly, Halliburton, Jim Cramer's, Jim Cramer, Jim, Jen, Hsun Huang, Huang, Andrej Sokolow Organizations: Nasdaq, Dow Jones, Nvidia, FactSet, Meta, Investors, Facebook, Networks, Palo Alto Networks, Alto, AMD, Devices, Palo, would've, The, HAL, Halliburton, West Texas, Coterra, Humana, Disney, DIS, CNBC, Consumer, Audi, Getty Locations: China, Meta, Palo, Palo Alto, Las Vegas, USA

☆ AMD's AI chips could match Nvidia's offerings, software firm says
▼ + stars: | 2023-06-30 | by ( Stephen Nellis | ) www.reuters.com time to read: +3 min

June 30 (Reuters) - Artificial intelligence chips from Advanced Micro Devices (AMD.O) are about 80% as fast as those from Nvidia Corp (NVDA.O), with a future path to matching their performance, according a Friday report by an AI software firm. Nvidia dominates the market for the powerful chips that are used to create ChatGPT and other AI services that have swept through the technology industry in recent months. That prompted MosaicML, an AI startup acquired for $1.3 billion earlier this week, to conduct a test comparing between AI chips from AMD and Nvidia. Tang said that MosaicML used its tools, the PyTorch and AMD software to train a large language model without having to make any changes to its code base. If developers can find AMD's chips at the right price, "you can already switch to these today they're essentially interchangeable" with Nvidia chips, Tang said.

Persons: MosaicML, Hanlin Tang, Tang, OpenAI, Stephen Nellis, Aurora Ellis Organizations: Micro Devices, Nvidia Corp, Nvidia, AMD, MosaicML, Meta, Thomson Locations: San Francisco

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