A challenge for NVIDIA: AMD hopes to sell $2 billion worth of AI chips

AMD predicts $2 billion in sales in 2024 from the chip, which is supposed to compete with NVIDIA in the artificial intelligence market, reports Reuters.

AMD hopes that its MI300X development will weaken NVIDIA’s position in the market of chips used in the AI industry. In this context, AMD CEO Lisa Su also said that numerous “ultra-large customers” have committed to using MI300 chips.

AMD also expects that chip sales in the fourth quarter will bring the company $400 million. Back in August, the manufacturer predicted this figure at $300 million.

In general, AMD forecasts that its revenue in the current quarter will be about $6.1 billion. This is below the expectations of market analysts, who believed that AMD’s revenue could reach $6.37 billion.

The company’s adjusted revenue in the third quarter increased by 4% to $5.8 billion, compared to the forecast of $5.7 billion.