Advanced Micro Devices (AMD) forecasts $2 billion in sales of AI chips in 2024, helping shares rebound. CEO Lisa Su expects data center GPU revenue to reach $400 million in Q1 of 2024 and exceed $2 billion in the same year. This growth would make the MI300 the fastest product to ramp to $1 billion in sales in AMD's history. AMD has adequate supply to support $2 billion of AI chip sales.
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How high can $AMD go? Our analysis of historical earnings data shows that after beating EPS estimates by $0.02, AMD stock could rise as much as 28% a month after announcing the beat.
AMD Shares Jump Over 8% After Optimistic AI Chip Revenue Forecast https://t.co/bzHzGcDLT1 https://t.co/wBZYnT4CWO
AMD stock jumps more than 8% on strong 2024 AI chip projections https://t.co/H2A8H41Bmm
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AMD $AMD CEO Lisa Su said the firm could see data center GPU revenue of $400M in Q4, before rising to more than $2B in 2024. At that rate, the MI300 would be AMD's fastest product to ramp to $1B in revenue.
US semiconductor giant Advanced Micro Devices – @AMD – has shared a soft forecast for the rest of the year, but expects revenue for its AI chips to ramp up in 2024. https://t.co/6SHXwTCDkF
AMD sees profit surge as it banks on AI chips https://t.co/iK0w4rfrIy
AMD’s stock claws back initial losses as it forecasts $2B in AI chip sales in 2024 https://t.co/fJ7X127NwU
AMD forecasts $2 billion sales of AI chips, helping shares rebound https://t.co/owcgaYt01j https://t.co/ezPfuXgedw
$AMD "has adequate supply to support $2bn of AI chip sales, says accelerator revenue in 1q will be $400mn"
Lisa Su just said $AMD expects to bring in Data Center GPU revenue of ~$400M in Q1 of 2024 mostly from its MI300 AI Chip
Lisa Su just said $AMD now expects "data center GPU revenue to be approximately $400M in the fourth quarter and exceed $2B in 2024 as revenue ramps throughout the year" This growth would make the MI300 the fastest product to ramp to $1B in sales in AMD's history