Copyright Reuters
Sign up here. At AMD analyst days, business unit heads typically present a series of projections and financial forecasts for the next several years. Beyond its AI chips, AMD likely will discuss its PC and video game chip businesses and its programmable chip unit. Last week, the Santa Clara, California-based company forecast fourth-quarter revenue that topped Wall Street estimates. Demand for AI chips gave AMD executives a reason for optimism about the remainder of the year. The company's data center CPU business has also benefitted from the surge in AI-related spending. The company last held an analyst day in 2022. Tuesday's event will start at 1 p.m. EST (1800 GMT). AMD signed a multiyear deal with ChatGPT creator OpenAI in October that will bring the company more than $100 billion in new revenue over four years from OpenAI and other customers. As part of the arrangement, OpenAI will receive warrants that allow it to purchase a stake of up to 10% in the chipmaker. The OpenAI arrangement was a much-needed large customer for AMD, which has not yet captured the outsized returns from the boom in AI spending as Nvidia has. Reporting by Max A. Cherney in New York; Editing by Matthew Lewis Our Standards: The Thomson Reuters Trust Principles., opens new tab Max A. Cherney is a correspondent for Reuters based in San Francisco, where he reports on the semiconductor industry and artificial intelligence. He joined Reuters in 2023 and has previously worked for Barron’s magazine and its sister publication, MarketWatch. Cherney graduated from Trent University with a degree in history.
