Investing.com 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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