AMD’s data center segment saw year-on-year growth of 80 percent, driven by increased demand for the company’s MI300 AI GPU.
Publishing its Q1 2024 financial results this week, the company reported quarterly revenue of $5.47 billion, an 11.3 percent year-over-year decrease, but a 2.2 percent increase from Q4 2024.
Of AMD’s total quarterly sales, $2.34bn originated from the company's data center business, which includes server CPUs and AI chips. In the final quarter of 2023, the same segment had sales totaling $2.28 billion.
Speaking to analysts on the company’s revenue call, CEO Lisa Su labeled the Instinct MI300 AI chips the “fastest-ramping product in AMD history,” noting that it had passed $1bn in total sales in less than two quarters.
Launched in early December 2023, the MI300-series is designed to train and run large language models. AMD claims the chips are the highest-performance accelerators in the world for generative AI.
On the call, Su added that AMD has “more than 100 enterprise and AI customers actively developing or deploying MI300X,” with customers reportedly experiencing improved inferencing performance and TCO advantages compared to the Nvidia H100.
“Based on our expanding customer engagements, we now expect data center GPU revenue to exceed $4 billion in 2024,” Su said. “Longer term, we are increasingly working closer with our cloud and enterprise customers as we expand and accelerate our AI hardware and software roadmaps and grow our data center GPU footprint.”
