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Advanced Micro Devices, Inc. - $AMD STOCK NEWS

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Advanced Micro Devices, Inc. (NASDAQ: AMD), headquartered in Santa Clara, California, is a pioneering multinational semiconductor company specializing in the development of high-performance CPUs, GPUs, and related technologies for both business and consumer markets. AMD designs advanced digital semiconductors for diverse applications, including PCs, gaming consoles, data centers, industrial, and automotive sectors. Historically known for its innovations in CPUs and GPUs, AMD's technology powers devices ranging from personal computers to the high-performing game consoles of Sony PlayStation and Microsoft Xbox.

In 2022, AMD made a strategic acquisition of Xilinx, known for its leadership in field-programmable gate arrays (FPGAs), broadening AMD's product offerings and market opportunities, particularly in data centers and automotive industries. The integration of Xilinx has fortified AMD's portfolio, enabling the delivery of adaptive and scalable solutions.

AMD's first-quarter financial results for 2024 highlighted a revenue of $5.5 billion, a gross margin of 47%, and operating income of $36 million. The non-GAAP gross margin stood at 52%, with a net income of $1.0 billion and diluted earnings per share of $0.62. Significant year-over-year growth in the Data Center and Client segments, driven by the adoption of Ryzen and EPYC processors and the ramp of MI300 AI accelerators, underpinned these results.

Notable achievements include record revenue in the Data Center segment, which saw an 80% year-over-year increase, and a robust portfolio expansion with the launch of new AI solutions for various markets. AMD's partnerships with tech giants like Lenovo, Dell Technologies, and Supermicro underscore its commitment to advancing AI capabilities across cloud, enterprise, and embedded systems. The introduction of the AMD Ryzen PRO and Versal Series Gen 2 devices further showcases AMD's innovation in AI and edge computing.

AMD's outlook for the second quarter of 2024 projects a revenue of approximately $5.7 billion, with continued growth and margin improvement on the horizon. The company remains focused on leveraging AI opportunities to drive future growth.

In recent developments, AMD's collaboration with Optiver highlights the deployment of AMD's high-performance compute solutions, including EPYC CPUs and Alveo accelerators, to enhance financial market infrastructures. Furthermore, AMD's recognition with the IEEE Corporate Innovation Award reflects its pioneering work in chiplet architecture and high-performance computing, emphasizing its leadership in the semiconductor industry.

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AMD introduces the Spartan UltraScale+ FPGA family, offering high I/O counts, power efficiency, and advanced security features for various applications. The new FPGAs provide industry-leading I/O to logic cell ratio, up to 30% lower power consumption, and robust security features. The family is optimized for edge applications, with flexible I/O interfacing and power-efficient compute capabilities. AMD emphasizes security with features like Post-Quantum Cryptography and physical unclonable function. The Spartan UltraScale+ FPGAs are supported by the AMD Vivado Design Suite and Vitis Unified Software Platform, enhancing design productivity.
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AMD appoints Thomas Zacharia as senior vice president of strategic technology partnerships and public policy to accelerate the deployment of AMD-powered AI solutions globally. Zacharia's extensive experience in scientific research and public policy will drive the adoption of HPC and AI technologies for the public good.
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AMD's CFO, Jean Hu, will present at the Morgan Stanley Conference on March 5, 2024. The webcast will be available on the AMD Investor Relations website.
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AMD's Mark Papermaster, CTO and EVP of Technology and Engineering, to present at virtual Arete investor webinar on Feb. 20.
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AMD partners with JR Kyushu Railway Company to automate track inspection using AMD Kria™ K26 System-on-Module, enhancing efficiency and safety in Japan's bullet train operations.
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AMD launches AMD Embedded+ architecture, combining AMD Ryzen™ Embedded processors with Versal™ adaptive SoCs to deliver scalable and power-efficient solutions for ODM partners, reducing qualification and build times. The architecture enables the use of a common software platform for low power, small form factor, and long lifecycles for medical, industrial, and automotive applications. The first ODM solution based on Embedded+ architecture is the Sapphire Edge+ VPR-4616-MB, offering full capabilities in as low as 30W of power.
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AMD reported strong financial results for the fourth quarter and full year of 2023, with revenue reaching $6.2 billion and $22.7 billion respectively. The company's gross margin was 47% and 46% for the fourth quarter and full year, respectively. Operating income for the fourth quarter was $342 million, while net income was $667 million. AMD's non-GAAP gross margin was 51% for the fourth quarter and 50% for the full year. The company's Data Center segment revenue increased by 38% year-over-year, and the Client segment revenue was up 62% year-over-year. However, Gaming segment revenue decreased by 17%, and Embedded segment revenue was down 24% year-over-year. AMD expects revenue to be approximately $5.4 billion for the first quarter of 2024.
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AMD announced the appointment of Ava Hahn as senior vice president, general counsel, and corporate secretary, replacing Harry Wolin who is retiring after 24 years. Hahn brings extensive legal experience from technology companies like Lam Research, CA Technologies, and Aruba Networks, as well as VC firms. AMD Chair and CEO Dr. Lisa Su expressed gratitude to Wolin and excitement for Hahn's contribution to the company's next growth phase.
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AMD (NASDAQ: AMD) will report its fiscal fourth quarter and full year 2023 financial results on January 30, 2024. The management will conduct a conference call to discuss the results at 5:00 p.m. EST / 2:00 p.m. PST. Interested parties can listen to the webcast via the AMD Investor Relations website ir.amd.com.
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AMD (NASDAQ: AMD) introduces the AMD Radeon™ RX 7600 XT, a high-performance graphics card designed to power demanding games and content creation applications. It delivers up to 1.9X faster gaming and raytracing performance in select titles compared to a popular competitive offering based on Steam survey data. The graphics card features 16GB of high-speed GDDR6 memory and supports advanced technologies including AMD FidelityFX™ Super Resolution and AMD HYPR-RX with AMD Fluid Motion Frames, providing fully immersive and highly responsive gaming experiences at up to 1440p.
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FAQ

What does AMD specialize in?

AMD specializes in developing high-performance CPUs, GPUs, and related technologies for various markets, including PCs, gaming consoles, data centers, industrial, and automotive sectors.

What was AMD's revenue for the first quarter of 2024?

AMD's revenue for the first quarter of 2024 was $5.5 billion, with a gross margin of 47% and net income of $1.0 billion.

How has the acquisition of Xilinx benefited AMD?

The acquisition of Xilinx has broadened AMD's product offerings, particularly in adaptive and scalable solutions for data centers and automotive markets.

What are some notable achievements of AMD in recent years?

Notable achievements include record revenue growth in the Data Center segment, expansion of AI solutions, and new product launches like the AMD Ryzen PRO and Versal Series Gen 2 devices.

What is AMD's outlook for the second quarter of 2024?

AMD expects revenue of approximately $5.7 billion for the second quarter of 2024, with continued growth and margin improvement driven by AI opportunities.

How is AMD contributing to the financial market infrastructure?

AMD collaborates with companies like Optiver, providing high-performance compute solutions such as EPYC CPUs and Alveo accelerators to enhance financial market infrastructures.

What recognition has AMD received for its innovations?

AMD received the IEEE Corporate Innovation Award in 2024 for pioneering the development and deployment of chiplet architecture designs for high-performance computing.

Which gaming consoles use AMD technology?

AMD technology powers prominent gaming consoles such as the Sony PlayStation and Microsoft Xbox.

What strategic moves has AMD made to enhance its AI capabilities?

AMD has expanded its AI solutions portfolio and established partnerships with Lenovo, Dell Technologies, and Supermicro to advance AI capabilities across various markets.

What key financial metrics highlight AMD's performance in Q1 2024?

Key financial metrics include a 47% gross margin, $36 million operating income, $1.0 billion net income, and diluted earnings per share of $0.62.

Advanced Micro Devices, Inc.

Nasdaq:AMD

AMD Rankings

AMD Stock Data

260.60B
1.61B
0.46%
72.95%
2.15%
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