AMD Sets Ambitious $2 Billion Sales Goal for 2024, Unveils AI-Optimized Chips for Supercomputers and Generative AI

American Semiconductor company, Advanced Micro Devices On Wednesday, AMD introduced a new line of AI chips, estimating that the market for its artificial intelligence processors aimed at data centers could hit $45 billion this year, a marked increase from the $30 billion forecast made earlier in June.

According to their estimates, AMD is projecting sales of $2 billion by the end of 2024.

The corporation boasts a substantial supply for the coming year, which is expected to exceed the forecasted $2 billion in sales, remarked Lisa Su, AMD's CEO, during a recent press conference. Su also highlighted the overwhelming demand, stating, 'We have reserved a considerable amount of supply and an extensive customer base, surpassing the $2 billion threshold.' AI chips The tech giant has rolled out two new AI-focused chips as part of their MI300 lineup, namely the AMD Instinct MI300X and AMD Instinct MI300A.

The semiconductor With the introduction of its latest processors, AMD executives have underscored the escalating demand for AI chips, projecting that the AI chip landscape in data center markets will skyrocket to around $400 billion by 2027.

New AI Processors Set to Rivals Nvidia's Market Command

Various analysts calculate that Nvidia holds approximately 80% of the AI chip market when considering customized processors from major players like Google and Microsoft. Although Nvidia does not publicly share specific figures for its AI sales, a large segment of its revenues comes from its data center operations.

In contrast, AMD's MI300 series aims to rival Nvidia's leading AI processors. AMD has also unveiled an updated version of the software necessary for launching these AI chips in various applications, with one chip specifically designed for supercomputing tasks. The MI300X, a processor geared towards generative AI, incorporates sophisticated high-bandwidth memory to boost its capabilities. AI chip 'The AMD Instinct MI300 Series accelerators are crafted with our leading-edge technologies, providing top-tier performance and will be extensively deployed in cloud and enterprise settings,' stated Victor Peng, the president of AMD.

'By harnessing our leading hardware, software, and open ecosystem strategies, cloud service providers, OEMs, and ODMs are positioning themselves to deliver solutions that enable enterprises to integrate and implement AI-powered technologies,' Peng elaborated.

The first chip is designed for generative AI AMD's recent launch of the MI300 series represents a crucial advancement in the competitive realm of AI chips. With an expected market size of $45 billion for AI processors in 2023 and a sales target set at $2 billion by 2024, AMD has ambitious plans to disrupt Nvidia's dominance.

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