CM – AMD soars as Meta selects its data center chips for Facebook

0 â ???? Advanced Micro Devices share (NASDAQ:


) rose more than 7% on Monday when they signed a contract with Facebook parent Meta (NASDAQ:


), which would enable the former to plug their chips into Facebook’s data centers.

AMD has established itself as a serious competitor in the data center chips market after previously doing business with Alphabet (NASDAQ:


) Google Cloud, Amazon Web Services (NASDAQ:


) and Microsoft’s Azure (NASDAQ:



The company has proven to be worthy competition for Intel (NASDAQ:


), now takes on bigger competitors like Nvidia (NASDAQ:


) in the supercomputing markets.

The company announced a chip called the MI200, which is an « accelerator ». designed to accelerate certain tasks like machine learning and AI.

Oak Ridge National Laboratory (NYSE:


) in Tennessee the new chip will be in its « Frontier » Supercomputer system, said AMD.

The new chip is set to compete with Nvidia’s A100 chip, which along with other chips to accelerate AI helped it achieve a market capitalization of ?? 765.3 billion ???? s $ 175.3 billion.

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