The company of semiconductors posted strong growth in its data center business, with “above-expected” sales of its AI chips at revenues of more than $1 billion.
AMD soars almost 9% in the premarket Wall Street After announcing better-than-expected second quarter results and the strength shown in its figures, it boosts other companies in the sector such as Nvidia (+6.9%) or Qualcomm (+3%).
The company of semiconductors recorded strong growth in its data center business, supported by the vaccounts for their graphics processing units (GPU)which are used to train artificial intelligence models.
AMD’s financial results
As for other notable figures, the firm obtained a net profit of US$265 million compared to US$270 million in the same period of the previous year. Regarding revenue, it reached US$5.84 billion, above the US$5.72 billion forecast by consensus.
Lisa Su, CEO of AMD, has explained that the company has registered sales “higher than expected” of its AI chips, and that revenue from its MI300 chips exceeded $1 billion during the quarter.
“As a result, we now expect data center GPU revenue to exceed $4.5 billion in 2024, up from the $4 billion we forecast in April,” he added.
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But semiconductor sector It is also helped by reports that the United States is considering expanding a rule that could restrict exports of semiconductor-related equipment from foreign companies China, but allies such as Japan, the Netherlands and South Korea would be excluded.
According to Reuters, the Biden administration plans to unveil a New rule during the month of August to expand the so-called foreign direct products rule, but allies that export key chipmaking equipment, including Japan, the Netherlands and South Korea, will be excluded, limiting its impact.
Exports to China from countries such as Israel, Taiwan, Singapore and Malaysia will be affected by the United States government, although the news agency stresses that it has not been able to determine which Chinese chip factories would be affected.
Source: Ambito
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