SANTA CLARA: Advanced Micro Devices Inc. will supply artificial intelligence chips to OpenAI in a multi-year agreement that the chipmaker said Monday is expected to generate tens of billions of dollars in annual revenue. The deal, which includes an option for OpenAI to buy a significant stake in AMD, sent the company’s shares surging more…
Tag: AMD
Stocks fall as tech slide deepens, Fed minutes signal inflation concerns
Dow Jones edges lower as tech rout deepens, Fed minutes stir rate cut debate Wall Street closed lower on Wednesday as investors pulled back from high-flying technology stocks for a second consecutive session, while digesting mixed retail earnings and the Federal Reserve’s latest meeting minutes. The Nasdaq Composite fell 1%, weighed down by steep losses…
Stocks climb as Fed rate cut bets push indexes to record highs
Dow Jones jumps 409 points as rate cut bets fuel market surge NEW YORK: U.S. stocks rose Wednesday, extending their recent rally as growing expectations for a Federal Reserve rate cut in September propelled major indexes to fresh record highs. The Dow Jones Industrial Average jumped 409 points, or 0.9%, while the S&P 500 added…
Wall Street turns lower as tariff concerns resurface; Caterpillar, Eli Lilly lead declines
Dow drops 332 points as Caterpillar, Eli Lilly slump; chipmakers rally on Trump’s tariff exemption NEW YORK: U.S. stocks reversed early gains and closed lower on Thursday as renewed concerns over President Donald Trump’s tariff policy weighed on investor sentiment, with industrial and pharmaceutical shares leading the retreat. The Dow Jones Industrial Average fell 332…
Thinking Machines Lab, AI startup founded by Mira Murati, raises $2 billion
Thinking Machines Lab, the artificial intelligence startup launched by former OpenAI executive Mira Murati, has secured $2 billion in funding as it gears up to debut its first product within months. Murati, who briefly served as interim CEO of OpenAI during a tumultuous leadership shakeup in 2023, founded Thinking Machines in February after stepping down…
DigitalOcean partners with AMD to offer affordable AI GPUs for developers
NEW YORK: DigitalOcean Holdings, Inc. (NYSE: DOCN) announced a collaboration with AMD to provide its customers with access to AMD Instinct™ GPUs, (AI GPUs) starting with the MI300X model, to power artificial intelligence workloads. The cloud computing company said it will later expand its offerings to include AMD’s high-performance MI325X GPUs, giving developers more affordable…
AMD sells ZT Systems’ server manufacturing to Sanmina
SAN JOSE: Advanced Micro Devices Inc. (AMD) is selling the server manufacturing business of recently acquired ZT Systems to Sanmina Corp. in a deal worth up to $3 billion, as the chipmaker shifts focus to U.S.-based production of artificial intelligence hardware. The agreement, announced Monday, underscores AMD’s push to onshore more of its supply chain amid rising…
AMD launches adaptive SOCs Versal AI Edge Series Gen 2 and Versal Prime Series Gen 2
NUREMBERG, GERMANY: AMD (NASDAQ: AMD) announced the expansion of the AMD Versal adaptive system on chip (SoC) portfolio with the new Versal AI Edge Series Gen 2 and Versal Prime Series Gen 2 adaptive SoCs, which bring preprocessing, AI inference, and postprocessing together in a single device for end-to-end acceleration of AI-driven embedded systems. These…
AMD strengthens its software strategy with Nod.ai acquisition
AMD announced on Tuesday that it will acquire Nod.ai, an artificial intelligence startup that specializes in making AI models run better on AMD’s chips. The deal is part of AMD’s strategy to compete with Nvidia (NVDA.O), the dominant player in the AI chip market. Nvidia has a strong advantage in the software side of AI,…
AMD to invest $400 million in India, build largest design center in Bengaluru
The U.S. chipmaker Advanced Micro Devices (AMD) has announced that it will invest around $400 million in India over the next five years and will establish its largest design center in the country in the tech hub of Bengaluru. The announcement was made by AMD’s Chief Technology Officer Mark Papermaster at the India Semiconductor Association’s…
AMD Unveils MI300X GPU for AI, Expanding its Presence in the Data Center Market
AMD, a renowned semiconductor manufacturer, announced on Tuesday that its cutting-edge GPU for artificial intelligence (AI), the MI300X, is set to begin shipping to select customers later this year. Speaking to investors and analysts in San Francisco, AMD CEO Lisa Su emphasized that AI represents the company’s most significant long-term growth opportunity. Su highlighted the…
AMD Reports Better-Than-Expected Q1 Revenue and Earnings, Expects Growth in H2
AMD reported better-than-expected revenue and earnings for the first quarter of the year. However, the company’s stock declined by 6% in after-hours trading on Tuesday due to the chipmaker’s guidance for the current period, which fell short of analysts’ estimates. For the quarter ended in December, AMD’s adjusted EPS was 60 cents per share, surpassing…