01/08/2024
In the Q2 2024 Earning conference Call: AMD CEO Lisa Su announced that the company's AI chip sales surpassed expectations, with revenue from its MI300 chips exceeding $1 billion for the quarter. "As a result, we now anticipate data center GPU revenue to exceed $4.5 billion in 2024, up from the $4 billion forecasted in April," Su stated. She added, "Our AI business continues to accelerate, and we are well positioned to achieve strong revenue growth in the second half of the year, driven by demand for Instinct, EPYC, and Ryzen processors.
Additionally, the company disclosed that its next-generation MI325X will be available starting in Q4, while the MI350X is slated for release in 2025. AMD also plans to roll out the MI400 in 2026.
It's not just AI that is crucial for AMD. The company's Client segment, which encompasses sales of chips for PCs, remains a significant part of its business. In the quarter, AMD reported revenue of $1.5 billion, surpassing the expected $1.45 billion and increasing from $998 million in the same period last year. This growth indicates that the PC market is rebounding from the post-pandemic downturn experienced in recent years. π₯
Additionally, AMD produces chips for gaming consoles and GPUs for 3D graphics. The company reported $648 million in revenue from the gaming category, a 59% decline year over year.
The embedded segment, consisting of products acquired through the Xilinx acquisition in 2022 for industrial customers, generated $861 million in sales. This represents a 41% year-over-year decrease, impacted by weak demand from customers who have accumulated stockpiles of parts.
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