AMD hopes for rebound in the second half of the year as Q2 profits plunge 94%
AMD crawled back to profitability in the second quarter of 2023, reporting net income of $27 million – a drop of 94 percent from this time last year, but a sight better than the $139 million loss the chipmaker sustained in Q1., falling 18 percent year-over-year to $5.35 billion and remaining flat compared to the first quarter, but the biz predicted better times lie ahead.
"We executed well in the second quarter, launching multiple leadership products, significantly expanding our AI engagements, and ramping our latest gen-four Epyc and Ryzen product families," CEO Lisa Su said on Tuesday's earnings call. AI is an area of particular interest for AMD, which recently detailed its MI300-series GPUs and APUs during itsin June. According to Su, the announcements have attracted a fair bit of interest in AMD's AI roadmap and drove a seven-fold increase in customer engagements compared to Q1.
"While we are still in the very early days of the new era of AI, it is clear that AI represents a multibillion-dollar growth opportunity for AMD," Su enthused."In the datacenter alone, we expect the market for AI accelerators to reach over $150 billion by 2027." The chief executive also took the opportunity to highlight adoption of the flagship Epyc 4 processors, which
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