AMD Set to Launch Next-Gen AI Processors at “Advancing AI” Event

Published On: October 12, 2024 1:37 am

AMD Set to Showcase New AI Chips at Upcoming San Francisco Event

At its “Advancing AI” event in San Francisco on Thursday, AMD (AMD) is anticipated to unveil multiple new artificial intelligence (AI) processors and advanced chips. This announcement could solidify its position in the competitive AI chip market, according to a report from Reuters.

Upcoming Details on the MI325X Chip

AMD is expected to provide insights about its MI325X chip during the event, which is scheduled for launch later this year. Furthermore, the company may share additional information on the next-generation MI350 chip, anticipated for release in the following year. These chips were first introduced at the Computex trade show in Taiwan last June. Notably, the MI350 series is expected to deliver significant improvements in computing power and memory capacity, as highlighted in a presentation earlier this year.

Alongside AI processors, AMD could also announce new server central processing units (CPUs) and PC chips designed to enhance AI computing capabilities. The company has been ramping up production of its MI300X chip, launched late last year, to satisfy the rising demand in the market.

Increased Demand Fuels AMD’s AI Chip Sales Forecast

This year, AMD increased its AI chip sales forecast to $4.5 billion, up from an earlier estimate of $4 billion. This adjustment has been driven by heightened interest in generative AI products.

Analyst Consensus: Buy, Hold, or Sell?

There’s bullish sentiment surrounding AMD stock, with a consensus rating of Strong Buy, supported by 25 Buy ratings and six Hold ratings from analysts. Over the last year, AMD’s stock has surged by over 50%. The average price target for AMD stock stands at $188.04, indicating more than 10% upside potential from its current levels.