AMD Unveils New AI Chip and Partnerships to Compete with Nvidia in Fast-Growing AI Market
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AMD unveiled a new AI chip, the MI300X GPU, to compete with Nvidia in the $200B AI market projected to hit $2 trillion by 2030.
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AMD signed partnerships with Microsoft Azure and Meta to use its new MI300X chip to optimize AI capabilities.
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AMD seeks to lead in AI-powered PCs, with 60% projected to be AI-enabled by 2027 per Canalys.
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AMD beat Q4 revenue estimates but issued weaker-than-expected Q1 guidance during its business transition towards GPUs and AI.
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EPS estimates show AMD's stock price could rise 98% to $396 by fiscal year 2026 based on forward P/E of 55.