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.
On October 1, 2020, AMD announced the deployment of its EPYC 7702 processors at the Okinawa Institute of Science and Technology (OIST) for a new high-performance computing system. This supercomputer will deliver 2.36 petaflops of power to support various computational research areas, driven by a significant increase in user demand. OIST highlighted key advantages of AMD's processors, including cost-performance efficiency and high core counts. AMD's EPYC technology is positioned to support OIST’s expanding research goals in fields like bioinformatics and physics.
AMD has announced that VMware vSphere 7.0U1 now supports AMD Secure Encrypted Virtualization-Encrypted State (SEV-ES), enhancing data security in virtualized environments. This feature is part of the AMD Infinity Guard and is available on all 2nd Gen EPYC processors. VMware claims that the EPYC processors deliver up to 2.3x better performance than competitors on VMmark. AMD and VMware's collaboration aims to provide high-performance virtualization solutions while ensuring simple security implementation for customers.
On September 22, 2020, AMD announced new Ryzen and Athlon mobile processors for Chromebooks, promising up to 178% faster web browsing than prior generations. These processors, developed with Google, will be featured in systems from major partners like Acer, ASUS, HP, and Lenovo, launching in Q4 2020. The Ryzen 3000 C-Series Mobile Processors enhance multitasking by up to 212% and feature built-in Radeon graphics for superior performance. The processors support Wi-Fi 6 and Bluetooth 5, making them optimal for remote work and online education.
On September 16, 2020, AMD's President and CEO, Dr. Lisa Su, was announced as a keynote speaker for CES 2021, the premier technology event taking place from January 11-14, 2021. This will mark her second keynote presentation at CES, where she will discuss AMD's vision for future advancements in high-performance computing and graphics solutions. CES 2021 will be an all-digital experience, aimed at a broader audience, showcasing cutting-edge technologies, innovations, and product launches from global brands and startups.
The Semiconductor Industry Association (SIA) has named Dr. Lisa Su, CEO of AMD, the recipient of the 2020 Robert N. Noyce Award. This prestigious honor recognizes her significant contributions to the semiconductor industry in technology and policy. Dr. Su has been with AMD since 2012 and has led the company to prominence in high-performance computing. She has received numerous accolades, including being named one of the World's 50 Best CEOs by Barron's. The award presentation will take place at the SIA Leadership Forum on November 19, 2019.
AMD has announced a second round of technology contributions to aid COVID-19 research, providing high-performance computing systems to 21 research institutions worldwide. This initiative includes 12 petaflops of supercomputing capacity, ranking among the world’s fastest. The AMD COVID-19 HPC Fund, with a $15 million total contribution, aims to enhance research capabilities for vaccine development and other pandemic-related studies. Institutions like Stanford, UCLA, and UT Austin will utilize AMD's EPYC CPUs and Radeon Instinct GPUs to accelerate critical research efforts starting Q4 2020.
AMD announced that its senior unsecured credit rating was raised to investment grade Baa3 by Moody's Investors Service, reflecting strong financial performance and outlook for growth. This upgrade is attributed to AMD's growing business momentum, market share gains, and excellent liquidity. The CFO, Devinder Kumar, emphasized the importance of financial discipline over the last five years. AMD focuses on high-performance computing and graphics technologies, driving innovation across multiple sectors.
AMD announced that Forrest Norrod, senior vice president and general manager of the Data Center and Embedded Solutions Business Group, will participate in a virtual fireside chat at Deutsche Bank’s Technology Conference on September 15, 2020, at 11:10am ET/8:10am PT. A live webcast will be available on AMD’s Investor Relations website, with a replay accessible four hours post-event, lasting for one year. AMD has been a leader in high-performance computing and graphics for 50 years, providing innovative technology for consumers and businesses worldwide.
AMD announced the launch of its new Radeon Pro 5000 series GPUs for the updated 27-inch iMac, featuring cutting-edge 7nm process technology and AMD RDNA architecture. These GPUs deliver up to 40 compute units and 16GB of GDDR6 memory, achieving up to 7.6 teraflops of performance. The series includes models like the Radeon Pro 5700 XT and 5700, both enhancing productivity for professional and consumer applications. This launch positions AMD as a competitive player in high-performance graphics, appealing to various user needs.
AMD (NASDAQ: AMD) will report its Q2 2020 financial results on July 28, 2020, after market close. A conference call is scheduled for 5:00 p.m. ET / 2:00 p.m. PT, where management will discuss the results. Interested participants can listen via AMD's Investor Relations website. The call will also be archived for one year. AMD has been a leader in high-performance computing and graphics technology for over 50 years, serving millions of consumers and businesses worldwide.
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