AI Hardware

AMD sold $1B of Instinct GPUs last quarter, driving triple-digit datacenter growth

AMD has told investors that its Instinct MI300X GPUs – the chip designer's alternative to Nvidia AI accelerator hardware – landed over $1 billion of datacenter revenues in Q2 this year.

By Priya Khosla July 31, 2024

Source: The Register

Speaking on AMD's second-quarter earnings call on Tuesday, CEO Lisa Su predicted the accelerators will bring in over $4.5 billion during her biz's 2024 fiscal year – up from the $4 billion target announced in April.

Launched in early December, AMD's MI300-series accelerators are its most powerful to date and – on paper at least – beat Nvidia's H100 in floating-point performance, memory bandwidth, and capacity. The part's performance appears to have made it attractive for AI inferencing on large models.

As it stands, AMD's Instinct GPU sales accounted for more than a third of its $2.8 billion in datacenter revenues during the quarter. Along with a "double digit" increase in sales of its Epyc processors, datacenter revenues rose 115 percent year-over-year (YoY) and accounted for nearly half of the chip shop's entire Q2 revenues, which topped $5.8 billion (up 9 percent) and delivered $265 million of overall net income (up 881 percent).

"We continue to see line of sight to continue increasing supply as we go through the second half of the year, but I will say that the overall supply chain is tight and will remain tight through 2025," Su told investors.

AMD predicted revenue will grow 15 percent quarter-over-quarter or 16 percent YoY in Q3 – meaning revenue of $6.7 billion plus or minus $300 million.

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