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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.
The AMD Instinct MI300X will power the new Azure ND MI300x v5 Virtual Machine (VM) series optimized for AI workloads, making Azure the first cloud to use the new accelerator.
Additionally, 4th Gen AMD EPYC processors are now being used to run a new generation of general purpose, memory-intensive, and compute-optimized VMs, providing better price options, up to 20% better performance for general purpose and memory-intensive VMs, and up to 2x the CPU performance for compute-optimized VMs versus the previous generation of AMD EPYC-powered VMs. The NGads V620 series of VMs for visualization is also powered by multiple AMD technologies – AMD Radeon™ PRO V620 GPUs and 3rd Gen AMD EPYC CPUs.
Furthermore, AMD continues to showcase the ongoing momentum of Ryzen AI, the first dedicated AI accelerator available on an x86 processor, with over 50 systems available now with Ryzen 7000 Series processors with Ryzen AI built in, and millions of AMD AI PCs available in the market.
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