AMD (AMD) Reports Lackluster Revenue Forecast as Gaming Demand Slows
Nov 01, 2023 - bloomberg.com
Advanced Micro Devices (AMD) has announced that its new AI chip, the MI300 processor, is expected to generate $2 billion in sales in the upcoming year. This optimistic forecast is seen as a counterbalance to a decrease in orders for video-game equipment. The MI300, which will compete with Nvidia Corp. products in the artificial intelligence accelerators market, is set to begin shipping in the next few weeks.
The announcement was made during a post-earnings conference call, where AMD expressed confidence that the demand for the new AI chip will offset the current slump in the gaming machine sector. This has helped to maintain investor optimism despite a tepid overall forecast.
Key takeaways:
Advanced Micro Devices Inc. announced a new AI chip that is expected to generate $2 billion in sales next year.
This optimistic forecast is expected to offset a slump in orders for video-game equipment.
The company's MI300 processor will compete with Nvidia Corp. products in the market for artificial intelligence accelerators.
The MI300 processor is set to begin shipping in the coming weeks, as announced during a post-earnings conference call.
