Posted 1/4/2024, 10:30:00 AM
AMD Sets Sights on $400B AI Market With New Data Center Chips and Acquisitions, Sees Major Growth Ahead
- AMD recently released new AI chips (MI300X) to compete with Nvidia in the data center market
- AMD CEO believes the addressable market for data center AI accelerators will reach $400 billion by 2027
- AMD forecasts $2 billion in data center GPU revenue in 2024, but there is potential for much faster growth
- AMD stock surged 123% in 2023, analyst sees 45% more upside to $200 target price
- AMD made strategic acquisitions in 2023 that haven't been fully monetized yet, setting up for big growth potential in 2024