'AI supercycle' is just getting started, says AMD's CEO

Published On Sep 9, 2024, 6:23 PM

AMD's CEO, Dr. Lisa Su, indicated that the company is at the forefront of an AI supercycle and plans to release a series of powerful AI chips aimed at competing with Nvidia. AMD's new MI chips are positioned to grow the company's AI chip sales significantly, with estimates projecting revenues of $4.5 billion for 2024 compared to just $100 million last year. This indicates a dramatic shift towards AI technologies in AMD's business model, with expectations of ongoing performance growth in the coming years.

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AMD's prospects appear strong due to its aggressive AI chip roadmap and substantial revenue growth projections. As AI technology continues to expand and dominate, demand for AMD's new chips could propel the company's stock higher.

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