AMD launches new data-center AI chips, software to go up against Nvidia and Intel
Summary
AMDs stock begins sliding during CEOs keynote address, and finishes down 3.6% Advanced Micro Devices Inc. officially unveiled several products at its Data Center & AI Technology Premiere event in San Francisco on Tuesday that are meant to take on Nvidia Corp. and Intel Corp., but AMD shares were under pressure following the announcements. This past earnings season, Su had told Wall Street analysts that "AI for us is broader than cloud," specifically with the MI300. During her keynote, Su said the chip delivers 1.8x performance per watt, compared with Intel Corp.s (INTC) fourth-generation Xeon platinum CPU. AMD shares, which had been flat when the keynote began, were down about 3% by the end of the address, and finished the regular trading session down 3.6% at $124.53. Meanwhile, Nvidia shares closed the day up 3.9% at $410.22, making Nvidia the first dedicated chip maker to end the trading day with a market capitalization of $1 trillion This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.