Advanced Micro Devices Inc - AMD STOCK NEWS

AMD has completed its acquisition of Silo AI, Europe's largest private AI lab, for $665 million in cash. This strategic move enhances AMD's commitment to delivering end-to-end AI solutions based on open standards. Silo AI brings a team of world-class AI scientists and engineers experienced in developing cutting-edge AI models, platforms, and solutions for major enterprise customers. The team has created state-of-the-art open-source multilingual Large Language Models (LLMs) on AMD platforms.

The Silo AI team will join the AMD Artificial Intelligence Group (AIG), led by Senior Vice President Vamsi Boppana. This acquisition is expected to improve customer experience in delivering high-performing AI solutions on AMD platforms, leveraging Silo AI's expertise in developing and integrating AI models for critical problem-solving.

AMD reported strong Q2 2024 financial results with revenue of $5.8 billion, up 9% year-over-year. The company's Data Center segment achieved record revenue of $2.8 billion, up 115% year-over-year, driven by AMD Instinct GPU and EPYC CPU sales. Client segment revenue increased 49% to $1.5 billion. Non-GAAP gross margin improved to 53%, and diluted EPS rose 19% to $0.69. AMD expanded its AI solutions portfolio with new CPUs, GPUs, and NPUs. The company also previewed 5th Gen EPYC processors and announced new Ryzen 9000 Series processors. AMD expects Q3 2024 revenue to be approximately $5.7 billion, +/- $300 million, with non-GAAP gross margin around 52%.

AMD has announced the retirement of President Victor Peng, effective August 30, 2024. Peng, who rejoined AMD in 2022 following the Xilinx acquisition, will continue in an advisory role until his retirement date. Under his leadership, AMD became the industry's #1 provider of FPGA and adaptive computing solutions.

As part of the transition, Vamsi Boppana, Senior VP of the Artificial Intelligence Group, will expand his responsibilities to include the AMD Instinct™ data center AI accelerator business. Salil Raje, Senior VP and GM of the Adaptive and Embedded Computing Group, will continue leading the AMD embedded business. Both Boppana and Raje will report directly to AMD Chair and CEO Dr. Lisa Su.

Samsung Electro-Mechanics (SEMCO) has announced a collaboration with AMD to supply high-performance substrates for hyperscale data center computing. These substrates, produced in SEMCO's Busan technology hub and new Vietnam factory, are designed to enhance the performance and reliability of next-generation data centers.

The semiconductor substrate market is projected to grow at a 7% annual rate, reaching 20 trillion KRW by 2028. SEMCO's 1.9 trillion KRW investment in its FCBGA factory demonstrates its commitment to advancing substrate technology. The collaboration focuses on integrating multiple semiconductor chips (Chiplets) on large substrates, which are ten times larger and have three times more layers than standard computer substrates.

SEMCO's advanced manufacturing processes address challenges like warpage, ensuring high yields during chip mounting. The FCBGA factory's real-time data collection and modeling capabilities enable the development of predictive manufacturing models for signal, power, and mechanical integrity.

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.