What's Going On With AMD Stock Wednesday?
Portfolio Pulse from Anusuya Lahiri
AMD announced an event on December 6, 2023, to launch its next-generation AMD Instinct MI300 data center GPU, a competitor to Nvidia's H100. Nvidia revealed its H200 GPU, an upgrade from the H100. AMD's event, 'Advancing AI,' will feature discussions on AI and computing with CEO Dr. Lisa Su. The event aims to showcase AMD's AI hardware and software momentum. AMD stock has risen 84% YTD but traded down 1.75% at $117.78 recently.
November 15, 2023 | 7:33 pm
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NEUTRAL IMPACT
AMD announced the launch of its next-gen AMD Instinct MI300 GPU on December 6, 2023, which is expected to compete with Nvidia's H100. The event will emphasize AMD's AI capabilities. Despite the positive year-to-date performance, AMD's stock recently fell by 1.75%.
The announcement of a new product launch could be positive due to the potential market expansion and competitive edge. However, the recent dip in stock price suggests a neutral short-term impact as the market may have already priced in the expectations.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Nvidia showcased its H200 GPU, an upgrade from the H100, which was used by OpenAI to train GPT-4. This comes as AMD announces its competing product, the AMD Instinct MI300 GPU.
Nvidia's showcase of the H200 GPU indicates ongoing innovation and competition in the GPU market. The impact on Nvidia's stock is likely neutral short-term as the market digests the competitive dynamics between Nvidia and AMD.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70