US chipmaker AMD reports all-time high Data Center revenue in 2nd quarter
Date
7/31/2024 9:49:02 AM
(MENAFN) US-based semiconductor manufacturer AMD reported record revenue in its Data Center segment for the second quarter of this year, according to its financial results statement released on Tuesday. The company achieved USD2.8 billion in revenue for its Data Center segment in the April-June period, marking a 115 percent increase from the same period last year. This substantial year-on-year growth was driven primarily by a significant increase in graphics processing unit (GPU) shipments and robust growth in central processing unit (CPU) sales. The surge in these areas highlights AMD's expanding footprint in high-performance computing and AI applications.
AMD Chair and CEO Dr. Lisa Su emphasized that the company’s artificial intelligence (AI) business continues to accelerate, reflecting the broader industry trend. "The rapid advances in generative AI are driving demand for more compute in every market, creating significant growth opportunities as we deliver leadership AI solutions across our business," Dr. Su stated. This focus on AI innovation has positioned AMD to capitalize on the growing need for advanced computing power across various sectors, further enhancing its competitive edge in the semiconductor industry.
The strong performance in the Data Center segment underscores AMD's strategic focus on expanding its product portfolio and enhancing its technological capabilities. This growth is not only a testament to AMD’s innovation in GPUs and CPUs but also its ability to meet the increasing demand for AI and machine learning solutions. The company’s robust results have positively influenced investor sentiment, with AMD's stock price rising by 6.2 percent in after-hours trading on the Nasdaq, reflecting confidence in its ongoing business momentum and future growth prospects.
Overall, AMD's second-quarter performance highlights its strategic advancements and market strength in the semiconductor industry. With continued investment in AI and computing technologies, the company is well-positioned to leverage emerging opportunities and sustain its growth trajectory in the competitive tech landscape.
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