Advanced Micro Devices (AMD) shares powered higher Thursday, adding to the stock’s impressive year-to-date gains, as investors repriced Nvidia’s chip-sector rivals following its blowout fourth-quarter earnings last night.
AMD, led by the highly-respected CEO Lisa Su, is the only real rival to Nvidia’s (NVDA) global market dominance in the AI-chip space with its new MI300X chip.
Late last year the group launched the MI300 line, designed to support generative artificial intelligence technologies, and unveiled a next-generation semiconductor focused on supercomputing, the Instinct M1300A.
The MI300X, analysts say, could challenge Nvidia’s dominant H100 graphics processing unit chip in the large language model AI market.
“We believe that AMD’s MI300 is one of the most competent products poised to challenge Nvidia,” said Huatai Research analyst Purdy Ho. “Notably, Lamini AI has announced the receipt of MI300 and plans to use it in training large models.”
“Tech giants such as Microsoft, Meta, and Oracle have also pledged to use the MI300 series as well,” he added.
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