Welcome to our dedicated page for Advanced Micro Devices news (Ticker: AMD), a resource for investors and traders seeking the latest updates and insights on Advanced Micro Devices stock.
Advanced Micro Devices, Inc. (NASDAQ: AMD), headquartered in Santa Clara, California, is a pioneering multinational semiconductor company specializing in the development of high-performance CPUs, GPUs, and related technologies for both business and consumer markets. AMD designs advanced digital semiconductors for diverse applications, including PCs, gaming consoles, data centers, industrial, and automotive sectors. Historically known for its innovations in CPUs and GPUs, AMD's technology powers devices ranging from personal computers to the high-performing game consoles of Sony PlayStation and Microsoft Xbox.
In 2022, AMD made a strategic acquisition of Xilinx, known for its leadership in field-programmable gate arrays (FPGAs), broadening AMD's product offerings and market opportunities, particularly in data centers and automotive industries. The integration of Xilinx has fortified AMD's portfolio, enabling the delivery of adaptive and scalable solutions.
AMD's first-quarter financial results for 2024 highlighted a revenue of $5.5 billion, a gross margin of 47%, and operating income of $36 million. The non-GAAP gross margin stood at 52%, with a net income of $1.0 billion and diluted earnings per share of $0.62. Significant year-over-year growth in the Data Center and Client segments, driven by the adoption of Ryzen and EPYC processors and the ramp of MI300 AI accelerators, underpinned these results.
Notable achievements include record revenue in the Data Center segment, which saw an 80% year-over-year increase, and a robust portfolio expansion with the launch of new AI solutions for various markets. AMD's partnerships with tech giants like Lenovo, Dell Technologies, and Supermicro underscore its commitment to advancing AI capabilities across cloud, enterprise, and embedded systems. The introduction of the AMD Ryzen PRO and Versal Series Gen 2 devices further showcases AMD's innovation in AI and edge computing.
AMD's outlook for the second quarter of 2024 projects a revenue of approximately $5.7 billion, with continued growth and margin improvement on the horizon. The company remains focused on leveraging AI opportunities to drive future growth.
In recent developments, AMD's collaboration with Optiver highlights the deployment of AMD's high-performance compute solutions, including EPYC CPUs and Alveo accelerators, to enhance financial market infrastructures. Furthermore, AMD's recognition with the IEEE Corporate Innovation Award reflects its pioneering work in chiplet architecture and high-performance computing, emphasizing its leadership in the semiconductor industry.
AMD has announced the Versal RF Series, a groundbreaking adaptive system-on-chip (SoC) that integrates high-resolution RF data converters, DSP hard IP, AI Engines, and programmable logic in a single device. The series offers up to 80 TOPS of DSP performance and features 14-bit, 32 GSPS, 18 GHz RF-ADCs for precise spectrum analysis.
This 5th generation of AMD direct RF devices delivers up to 19X more DSP compute in channelizer mode compared to previous generation Zynq UltraScale+ RFSoC. The solution targets aerospace, defense, and test & measurement markets with optimized size, weight, and power (SWaP). Development tools are available now, with silicon samples expected in Q4 2025 and production beginning in H1 2027.
AMD has appointed Tim Keating as Senior Vice President of Government Relations and Regulatory Affairs. Keating brings extensive experience, including over 14 years at Boeing as executive vice president of Government Relations and previous roles at Honeywell International and the White House. The appointment aims to strengthen AMD's engagement with key stakeholders as high-performance and AI chips become increasingly important in daily life.
AMD announced it will host a press conference during CES 2025 Media Days on January 6 at 11 a.m. PST at the Mandalay Bay. Jack Huynh, AMD's senior vice president and general manager of Computing and Graphics Group, along with other executives will discuss AMD's leadership in PCs and gaming, and showcase the company's high-performance computing and AI product portfolio. The event will be livestreamed on AMD's YouTube Channel with replay available afterward.
AMD has announced two upcoming financial community events. Forrest Norrod, executive vice president and general manager of Data Center Solutions Business Unit, will participate in the UBS Annual Technology Conference on December 3, 2024, at 12:15 PM MST. Additionally, Jean Hu, executive vice president, chief financial officer and treasurer, will attend the Barclays Global TMT Conference on December 12, 2024, at 11:00 AM PST. Both presentations will be available via webcast on AMD's Investor Relations website.
AMD announces El Capitan supercomputer, powered by AMD Instinct MI300A APUs, becomes the world's fastest supercomputer with a 1.742 exaflops performance score. This marks the second AMD-powered system to break the exascale barrier, following Frontier. AMD now powers 50% of the top ten fastest and 40% of the most energy-efficient supercomputers globally. The company also announced a collaboration with IBM to deploy AMD Instinct MI300X accelerators as a service on IBM Cloud, expected in first half of 2025.
AMD has announced the Versal Premium Series Gen 2, an adaptive SoC platform featuring industry-first FPGA devices with CXL 3.1 and PCIe Gen6 connectivity, along with LPDDR5X memory support. The platform offers enhanced data movement efficiency and increased memory resources to address growing processing demands in data center, communications, and defense markets.
Key features include PCIe Gen6 offering 2-4X faster line rates compared to competing FPGAs, LPDDR5X memory connectivity at up to 8533 Mb/s, and enhanced security features including PCIe Integrity and Data Encryption. Development tools are expected in Q2 2025, with silicon samples by early 2026 and production starting in second half 2026.
Fujitsu and AMD have signed a memorandum of understanding to form a strategic partnership focused on creating computing platforms for AI and high-performance computing (HPC). The collaboration aims to develop open-source and energy-efficient platforms by combining Fujitsu's MONAKA processor with AMD Instinct accelerators. The partnership spans three strategic areas: engineering, ecosystems, and business, with joint development targets set for 2027. The initiative will enhance AMD's ROCm software and Fujitsu's Arm-based software stack, while establishing a joint customer center to promote AI implementation globally.
AMD has unveiled the new Ryzen 7 9800X3D desktop processor, featuring the 'Zen 5' architecture and 2nd Gen AMD 3D V-Cache technology. The processor delivers up to 8% better gaming performance compared to the previous generation and up to 20% faster than competitors. Key specifications include 8 cores, 16 threads, 4.7 GHz base clock, 5.2 GHz max boost clock, 104MB total cache, and 120W TDP, priced at $479.
The innovative design relocates the 64MB cache memory below the processor, bringing the core complex die closer to the cooling solution. This is AMD's first fully unlocked X3D processor, allowing for extreme overclocking capabilities.
AMD reported strong Q3 2024 financial results with revenue of $6.8 billion, up 18% year-over-year. The company achieved a gross margin of 50% GAAP (54% non-GAAP), with net income reaching $771 million GAAP ($1.5 billion non-GAAP). Data Center segment hit record revenue of $3.5 billion, up 122% year-over-year, driven by strong AMD Instinct GPU and EPYC CPU sales. Client segment revenue grew 29% to $1.9 billion, while Gaming segment declined 69% to $462 million. The company is on track for record annual revenue in 2024, supported by growth in Data Center and Client segments.
AMD has announced it will report its fiscal third quarter 2024 financial results on Tuesday, Oct. 29, 2024, after the market closes. The company will hold a conference call at 5:00 p.m. EDT / 2:00 p.m. PDT to discuss these results. Interested parties can listen to the webcast of the conference call through the AMD Investor Relations website at ir.amd.com.
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