Global AI semiconductor revenue is expected to grow 26% to $67.1 billion in 2024. By 2027, AI chips revenue is expected to reach $119.4 billion. While Nvidia remains a leading player, rival AMD (NYSE:AMD) is expanding its presence within the AI space. AMD's FinancialsAMD was founded in 1969 by a group of tech experts under the leadership of Jerry Sanders. Initially, the company was building out memory chips, but it soon expanded and today is known for its product lineup that includes microprocessors, motherboard chipsets, embedded processors, graphics processors, FPGAs, and embedded system applications. The diversified portfolio of products has helped it expand into new markets including data centers, gaming, and more recently, the high-performance computing market. AMD recently reported third quarter revenue of $5.8 billion, up 4% over the year. On a non-GAAP basis, AMD ended the quarter with $0.70 per share, growing 4% over previous year's $0.67 per share. The market was