AMD catches up to NVidia

Source: Dukascopy Bank SA


The stock price of Advanced Micro Devices has jumped 2.80% or $3.28 during the pre-market hours and is expected to continue to surge due to announcements made by the company last night.

AMD has launched a new generation MI300 AI chip that is set to compete with NVidia's top processors.

Meanwhile, the company expects that its data centre AI processor market would reach the $45 billion benchmark already this year. The future outlook is that demand would be close to $400 billion by the end of 2026.

In addition, the Chief Executive Officer Lisa Su stated that AMD has significant stocks of AI chips that are worth more than $2 billion.

Note that the company's stock has surged in 2023 by nearly 80%. However, the gains have been minor, compared to the 211% surge of NVidia. The just announced news signal that AMD stock price might catch up to NVidia.
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