Sales of AMD's new AI chips are going gangbusters. Well, relatively speaking. AMD's latest results for the second quarter of this year showed that the company flogged roughly $1 billion's worth of its Instinct MI300 AI GPUs in the quarter, up from pretty much zero for the same class of hardware a year ago.
Overall, AMD's revenues were up 9% to $5.8 billion compared to the same period last year. Of course, the relative bit arrives when you compare all that with Nvidia's AI GPU sales, which came in at roughly $20 billion for the first quarter of 2024. So, AMD has done well to get a foothold in the mega-profitable AI GPU market. But it's still miles behind Nvidia.
