Advanced Micro Devices (AMD) unveiled its MI300 data center chip at its "Advancing AI" event on Wednesday. AMD CEO Dr. Lisa Su talks with Yahoo Finance Executive Editor Brian Sozzi on how the ultra-powerful AI accelerator aims to transform next-generation services. As AI adoption grows through deployments of OpenAI's ChatGPT and Microsoft's Copilot, Su explains the ability of AMD's new chip to help eliminate lags, discrepancies, and knowledge gaps to heighten accuracy in large-language models. Despite robust demand, Su says AMD "[plans] for success" through ample chip supply and partnerships. With an initial $2 billion revenue sightline in 2024, she expresses confidence that MI300 sales will continue surging to fuel AI progress in cloud and enterprise rollouts. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
The Nasdaq surged on Thursday, with Alphabet and Advanced Micro Devices sparking a megacap rally on fresh optimism about artificial intelligence. Shares of Alphabet jumped over 5% as analysts cheered the launch of the Google-parent's newest AI model, while AMD soared more than 9% after the company estimated the potential market for its data center AI chips could reach $45 billion this year.
The Nasdaq outpaced other major Wall Street indexes on Thursday as Alphabet shares surged, while investors looked forward to monthly payrolls data for clues on the Federal Reserve's policy actions. Shares of the Google-parent were up 5% as investors cheered the launch of the company's most advanced artificial intelligence model called Gemini.