AMD's CEO Lisa Su announced that the company's new MI350 chip series is significantly faster than Nvidia's chips, with the MI355 being 35 times quicker than its predecessors. As the AI market is projected to exceed $500 billion, AMD is striving to catch up to Nvidia with cost-effective alternatives that outperform Nvidia's existing products. Despite a modest investor response, AMD aims to revitalize its growth trajectory through these competitive innovations in its data center business, reinforcing its commitment to challenge its larger rival.
Though AMD remains a distant second to Nvidia in AI accelerators - the chips that help develop and run artificial intelligence tools - it aims to start catching up with these new products.
People used to think that $500 billion was very large number. Now it seems well within grasp.
AMD believes the new update to its MI range will restore momentum and prove it can go toe to toe with a much bigger rival.
AMD said that the MI355 outperforms Nvidia's B200 and GB200 products when it comes to running AI software and equals or exceeds them when creating the code.
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