AMD, Nvidia both lower as AMD shows off AI accelerator chips

AMD (AMD), at its “Advancing AI” in-person and livestreamed event to launch the next-generation AMD Instinct MI300 data center GPU accelerator family and “highlight the company’s growing momentum with AI hardware and software partners,” predicted that the market for such products could grow to more than $400B in the next four years. At the event, CEO Lisa Su unveiled the MI300, which is taking aim at an industry leader Nvidia (NVDA). The new chip has more than 150B transistors and 2.4 times as much memory as Nvidia’s H100, the current market leader, the company boasted. It also has 1.6 as much memory bandwidth, further boosting performance, AMD said. Companies using the processors will include Microsoft (MSFT) and Meta (META). In afternoon trading as AMD continues hosting the unveiling event, its shares are down fractionally to $117.81, while those of rival Nvidia (NVDA) are down about 1% to $459.92.