AMD just announced its second quarter 2024 earnings today, and the highlight was this: nearly half the company’s sales are now data center products — not chips for personal computers, not game consoles, not embedded chips for industry or vehicles. The company’s data center business has doubled in a single year, and this quarter’s growth was primarily due to a single chip: the AMD Instinct MI300 accelerator, which competes with Nvidia’s infamously influential H100 AI chip. The AMD chip just did over $1 billion in sales in a single quarter, according to CEO Lisa Su, up from its previous milestone of $1 billion cumulatively since its December 2023 debut. (AMD says its Epyc server CPUs also contributed.) It looks like AMD is following a similar path to Nvidia itself, which has profited so phenomenally from the Nvidia H100 that it will now make new AI chips every year, accelerating all of its research and development to stay ahead, focusing its business on the product that’s so popular it can’t keep on shelves. AMD, too, plans to release new AI chips every year: it has the MI325X coming in the fourth quarter of this year, the MI350 in 2025, and it plans to have the MI400 in 2026, the company reiterated today on its earnings call. Su said the MI350 should be “very competitive” with Nvidia’s Blackwell, which it revealed this March as “the world’s most powerful chip” for AI and recently began sampling to buyers.
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