Su Zifeng announces AMD profit report: MI 300 chip competes strongly against Nvidia, AI deployment

Financial analysts are generally optimistic about the prospects of AMD (Advanced Micro Devices, Inc), and the company recently announced its second-quarter financial report with earnings per share of $0.69 and revenue of $5.835 billion, surpassing the expected $5.724 billion. AMD's stock price continues to steadily rise.

AMD's second-quarter financial performance is impressive. Data shows that revenue from data centers was $283 million, gaming was $648 million, client was $149 million, and embedded products were $861 million.

AMD's Chairperson and CEO Lisa Su recently gave an interview to Bloomberg, discussing the company's second-quarter financial performance and future strategies in artificial intelligence and gaming. Su highlighted AMD's new AI flagship product line, the MI 300 accelerator chip series, and the acquisition of Silo AI Lab, expressing continued optimism about the AI market, AI personal computers, and the company's active acquisition of AI startups to expand its AI footprint.

AMD MI 300 vs Nvidia's H 100

The MI 300 AI chip can store up to 192GB of memory, with an astonishing 15.3 billion transistors, offering higher memory and bandwidth compared to competitor Nvidia's H 100 chip, resulting in faster computational performance. The MI 300 is currently the most advanced generative AI accelerator chip on the market. AMD's new series can train large language models (LLM), including OpenAI's ChatGPT. Microsoft has chosen AMD as a partner, utilizing the MI 300 AI chip.

Lisa Su estimated at the end of last year that sales of the MI 300 chip could reach $2 billion, posing a strong challenge to Nvidia's market share in AI chips.

AMD Cash Acquisition of Silo AI, Expanding Global Enterprise AI Solutions

According to an official press release issued by AMD on July 12, 2024, AMD has signed a definitive agreement to acquire Silo AI, the largest private AI lab in Europe, for $665 million in cash.

AMD's global strategy is to provide end-to-end AI solutions for enterprises, collaborating with the AI industry chain and top talents to establish strategic partnerships in the AI landscape. The acquisition of Silo AI Lab will include existing talents. Silo AI boasts top scientists and engineers, focusing on developing AI cloud and edge computing model platforms and solutions.

Following the acquisition, Silo AI CEO and Co-founder Peter Sarlin will continue to lead the Silo AI team, integrating it into AMD's AI business unit and reporting to Vamsi Boppana, Senior Vice President of AMD. The acquisition is expected to be completed in the second half of 2024.