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AMD to push AI chips to rival Nvidia by end of this year, bullish on China's AI market

Update time : 2023-08-03 14:26:36

AMD Inc. forecasts that it expects to finish the year strong as it plans to launch artificial intelligence (AI) chips that can compete with NVIDIA Semiconductor.AMD CEO Lisa Su said AMD will increase production of its flagship MI300 AI chips in the fourth quarter. These gas pedal chips, which are in short supply, are designed to compete with the advanced H100 chips that NVIDIA already sells.

ZF Su said customer interest in the MI300 series of chips has been "very high" and that AMD expanded its partnerships in the third quarter with "top cloud providers, large enterprises, and many leading AI companies".
Investors are betting that the MI300 chips, due to be released by AMD later this year, will challenge NVIDIA in the booming market for advanced AI chips.
However, the AMD MI300 exceeds performance limits for export-controlled sales to the Chinese market issued by the U.S. last October, and unlike Nvidia and Intel, AMD has yet to make special chips for the lucrative Chinese market.
NVIDIA modified its H100 chip to comply with U.S. Commerce Department restrictions on sales of advanced artificial intelligence semiconductors to China. AMD is considering a similar strategy for the MI300 and older MI250 chips, Su Zifeng said on a conference call with analysts.
"Of course, our plan is to fully comply with U.S. export controls. But we do believe there are opportunities to develop products for the Chinese customer base that is looking for AI solutions, and we will continue to work in that direction."
AMD has not yet given a detailed full-year forecast, but said it expects 2023 sales in its data center business, which includes the MI300 chip, to exceed the $6.04 billion in 2022.
Jenny Hardy, portfolio manager at GP Bullhound, which owns shares of NVIDIA and AMD, said NVIDIA still faces supply constraints that leave room for AMD's chips.
"If AMD is able to increase production and launch the MI300 chip in the fourth quarter, they could see strong demand as many people don't have access to NVIDIA chips. So we assume AMD will be able to effectively fill some of the supply demand gap," Jenny Hardy said.
AMD has enough MI300 chipsets to launch "aggressively" in the fourth quarter and have sufficient supply in 2024, Su said.
Su said there was "strong interest" in its older MI250 chip, which remains a "very good choice" for less complex AI tasks.
In the second quarter, AMD's data center revenue fell 11 percent to $1.32 billion, while customer revenue fell 54 percent to $998 million from $2.2 billion a year ago.

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