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Digital Signal Processors Market to Register Major Growth on Account of Rapid Advancements in Communication Technology and Automotive Industry Advancements
AMD earnings call for the period ending September 30, 2023.
(Reuters) -Chip designer Advanced Micro Devices on Tuesday forecast $2 billion in sales in 2024 from a chip that aims to compete with Nvidia in the artificial intelligence (AI) market, helping shares recover after a quarterly outlook missed expectations. AMD forecast fourth-quarter revenue and gross margins below Wall Street estimates, hurt by a weak gaming market as well as a decline in demand from some industries for its programmable chips. Shares of the Santa Clara, California-based company f
Shares of the Santa Clara, California-based company fell as much as 4.6% in after-market trading but turned roughly flat after executives disclosed on a conference call the outlook for its chip to compete with Nvidia. AMD is readying a chip called the MI300X it hopes will loosen Nvidia's grip on the market for data center AI chips used to create technologies similar to ChatGPT.
Shares of Advanced Micro Devices, Inc. (NASDAQ: AMD) spiked higher on Wednesday after the company reported upbeat third-quarter earnings earlier this week.