(AOF) – AMD gained 7.69% to 106.08 dollars, investors welcoming forecasts of revenue from its accelerator, MI300, which is intended for artificial intelligence applications. This product should generate sales of around $400 million in the fourth quarter and more than $2 billion in 2024, said the group’s boss, Lisa Su, during the conference with analysts. “This growth would make the MI300 the fastest product to reach $1 billion in sales in AMD’s history,” she said.
In the third quarter, Intel’s rival posted a 353% jump in net income to $299 million, or 18 cents per share. Adjusted earnings per share came in at 70 cents, compared with a consensus of 68 cents. Revenue rose 5% to $5.8 billion versus Wall Street expectations of $5.7 billion.
These good results are accompanied by disappointing sales prospects.
For the fourth quarter, AMD is targeting revenues of $6.1 billion on average, an increase of 9%. Wall Street targets $6.4 billion. Adjusted gross margin, a widely followed measure of profitability, is expected at around 51.5% compared to 51% in the third quarter.
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