Advanced Micro Devices Set to Unveil New Data Center Chips

Advanced Micro Devices (AMD) has benefitted from the hype surrounding artificial intelligence (AI).  The stock rallied to a 16-month high late last month and is up +87% this year, second to only Nvidia (NVDA) as the top performer in the Philadelphia Stock Exchange’s Semiconductor Index ($SOX).  Advanced Micro Devices hopes to add to its AI-induced rally when it unveils its new data center chips at an event next Tuesday in San Francisco.

Investors will get a peek next Tuesday at AMD’s new Epyc processor aimed at cloud computing. However, they will be more interested in the company’s MI300 processor, a purported rival to the H100 processor from Nvidia that runs AI applications.  Finimize Ltd, an investing insight platform owned by Abrdn Plc, said, “As to whether AMD could be successful in competing with Nvidia, it basically comes down to waiting and seeing, and maybe buying both AMD and Nvidia” as AI plays.