AMD (AMD) could unveil several new artificial intelligence (AI) processors and other advanced chips at its “Advancing AI” event in San Francisco on Thursday, according to a Reuters report. This could further establish the chipmaker as a key player in the AI chip market.
AMD Likely to Reveal Details About its MI325X Chip
During the event, AMD is likely to reveal details about its MI325X chip, which is set to launch this year. Additionally, the company could provide more details about its next-generation MI350 chip, slated for release next year. These chips were initially introduced at the Computex trade show in Taiwan back in June. The MI350 series, in particular, is expected to offer advanced computing power and memory capacity, according to a company presentation earlier this year.
In addition to AI processors, AMD could announce new server central processing units (CPUs) and PC chips that incorporate even more AI computing power. The company has quickly increased the production of its AI chip, the MI300X chip launched late last year, to meet increasing demand.
AMD Sees Rising Chip Demand
Earlier this year, AMD raised its AI chip sales forecast for the year to $4.5 billion, up from its previous estimate of $4 billion. The rise in this forecast has largely been fueled by the growing excitement surrounding generative AI products.
Is AMD a Buy, Hold, or Sell?
Analysts remain bullish about AMD stock, with a Strong Buy consensus based on 25 Buy ratings and six Hold ratings. Over the past year, AMD has soared by more than 50%, and the average AMD price target of $188.04 implies an upside potential of more than 10% from current levels.
