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 (NASDAQ: AMD) has announced that it will release its fiscal second quarter 2024 financial results on Tuesday, July 30, 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 the results. Investors and interested parties can listen to the webcast of the conference call through the AMD Investor Relations website at ir.amd.com. This announcement provides an opportunity for stakeholders to gain insights into AMD's financial performance and future outlook.
AMD announced its definitive agreement to acquire Silo AI, Europe's largest private AI lab, for $665 million in an all-cash transaction. This acquisition aims to accelerate the development and deployment of AMD-powered AI models and software solutions, enhancing open-source AI software capabilities. The transaction is set to close in the second half of 2024. Silo AI, based in Helsinki, specializes in end-to-end AI solutions for markets like cloud, embedded, and endpoint computing, with clients including Allianz, Philips, Rolls-Royce, and Unilever. The Silo AI team, led by CEO Peter Sarlin, will join AMD's Artificial Intelligence Group under SVP Vamsi Boppana. This move is part of AMD’s strategy to deliver end-to-end AI solutions and strengthen its global AI ecosystem.
AMD has announced a collaboration with Sun Singapore, the top smart parking solutions provider in Singapore, to deploy an AI-based smart parking system. This new system will use AMD Zynq UltraScale+ MPSoC devices, improving vehicle license plate recognition, parking spot vacancy detection, lane jam, accident detection, and parking violations enforcement.
PlanetSpark’s EdgeAI Box X7, powered by AMD's FPGA technology, will assist in delivering low latency and energy-efficient AI inferencing at the edge. The adaptable nature of the FPGA provides a long lifecycle for edge devices, capable of adjusting to evolving AI models and algorithms.
The collaboration aims to replace outdated electronic parking systems with advanced AI-driven solutions to enhance operational efficiency and reporting capabilities for car park operators. The new system promises license plate reading accuracy of 99%.
AMD (NASDAQ: AMD) announced that Ruth Cotter, Senior Vice President of Marketing, Communications, and Human Resources, will present at the UBS Women in Tech Summit. The event is scheduled for June 12, 2024, at 10:30 am PT / 1:30 pm ET. A webcast of the presentation will be available on AMD's Investor Relations website.
AMD announced that Jean Hu, their EVP, CFO, and Treasurer, will present at the Nasdaq London Investor Conference, held in partnership with Jefferies. This event is scheduled for Tuesday, June 11, 2024, at 2:45 pm GMT / 6:45 am PDT. The presentation will be available via webcast on AMD's Investor Relations website.
At Computex 2024, AMD (NASDAQ: AMD) introduced its next-generation
At Computex 2024, AMD (NASDAQ: AMD) introduced an expanded roadmap for its AMD Instinct accelerator family. The new roadmap includes the AMD Instinct MI325X, available in Q4 2024, featuring up to 288GB of HBM3E memory. The subsequent AMD Instinct MI350 series, based on AMD CDNA 4 architecture, will be available in 2025 with a 35x AI inference performance increase over its predecessor. AMD also previewed the MI400 series, expected in 2026, built on the AMD CDNA 'Next' architecture. These updates aim to meet the growing demand for AI compute in data centers. Key partners like Microsoft Azure, Meta, and Dell Technologies are already utilizing AMD's current MI300X accelerators. AMD's ROCm 6 software stack continues to enhance performance for popular AI models, showcasing 1.3x better inference performance and token generation compared to competitors.
At Computex 2024, AMD introduced several advancements in AI and high-performance computing.
The new AMD Instinct MI325X accelerators, featuring 288GB HBM3E memory, will be available in Q4 2024, extending AMD's AI performance leadership. AMD also previewed its 5th Gen EPYC processors, targeting a 2H 2024 release.
AMD revealed the Ryzen AI 300 Series for laptops and the Ryzen 9000 Series for desktops, both promising superior performance for PCs. Microsoft, HP, Lenovo, and Asus showcased new AI-powered products using these processors.
AMD also unveiled the AMD Versal AI Edge Gen 2 devices for edge AI applications, highlighting collaborations with companies like Subaru and Canon.
AMD (NASDAQ: AMD) announced that Chair and CEO Dr. Lisa Su will deliver the opening keynote at COMPUTEX 2024, scheduled from June 4-7 in Taipei, Taiwan. The keynote, titled “The future of high-performance computing in the AI era,” will occur on June 3 at 9.30 a.m. Taipei Local Time / June 2 at 9.30 p.m. ET. Dr. Su, along with partners and customers, will discuss AMD’s advancements in AI and high-performance computing across data centers, edge, and end-user devices. The event can be watched live on the Computex platform and AMD’s YouTube channel, with replays available post-event.
AMD has announced that its Instinct MI300X accelerators are powering the new Microsoft Azure ND MI300X V5 virtual machines (VMs), now generally available. Hugging Face is the first customer to utilize these VMs, which promise significant performance and efficiency for AI workloads, particularly GPT models.
Microsoft is leveraging AMD's solutions, including the MI300X accelerators and ROCm software, to provide a competitive price/performance ratio. The new VMs are available in the Canada Central region, supporting Azure AI Production workloads and enabling customers to run large models with enhanced efficiency.
Additionally, AMD's Alveo MA35D media accelerators are being used for Microsoft's video services, offering high channel density, energy efficiency, and low latency. These developments underscore a deepening collaboration between AMD and Microsoft, aimed at advancing AI and video processing capabilities.
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