Advanced Micro Devices Inc., (AMD) shares rose at pre-market on Wednesday, after there was a report that Amazon Inc. might buy its newest AI chip. There was a decline on Tuesday after a presentation by the company which unveiled its new AI chip. However, the report by Reuters gave AMD a boost pre-market and stock price rose by +1.33 percent.
The outlet had reported that Amazon Web Services (AWS) was considering buying these chips. It also said that the ecommerce giant had not yet committed to the financial plan. This would be a huge boost for AMD as it can compete with Nvidia, the current leader in AI chips that has a strong lead in the market.
In an exclusive, the outlet also quoted a vice president of AWS who said that AWS and AMD had been working together and that they had received some benefits as work had been done around the design.
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If Amazon’s (AMZN) cloud computing division uses AMD chips for its AI operations the chip maker will definitely see a boost in its revenues. However, neither AWS nor AMD have confirmed publicly but there is a potential of an agreement of use of AI these chips between the two companies.
The CEO of AMD was also interviewed by Reuters. The outlet reported that Lisa Su spoke of AMD offering a menu of choices so that customers could pick and choose what they wanted, allowing company to customize their data center
On Tuesday, Lisa Su told Yahoo finance that AMD would be ready to ship out chips later this year and would be able to meet strong demands of its AI chips by 2024. On the same day, AMD unveiled its new AI chip called MI300.
AMD has seen a 92 percent rally to date this year while Amazon saw a 51 percent increase. Analysts believe that AMD will outperform.
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