Semiconductors, the "engines" of AI - AMD predicts tripling of chip revenue by 2030
Advanced Micro Devices (AMD) announced that it expects to reach $100 billion in annual chip revenue within the next five years, tripling profits.
Since October 6, the company's shares have risen by 16%, after signing a lucrative multi-year deal with OpenAI, expected to bring in tens of billions of dollars in annual revenue.
While the deal is not expected to affect Nvidia's dominance in artificial intelligence chips, it is seen as a strong sign of confidence in AMD's semiconductors. Also, the upbeat financial forecasts are reassuring investors about the company's ability to capture market share.
AMD officials said the data center chip market could expand to $1 trillion by 2030, with artificial intelligence (AI) a key driver of that growth. The market includes the company's processors and networking chips, as well as its specialized units for innovative technology.
AMD expects 35% annual growth across the business and 60% growth in the data center segment over the next three to five years. The company also expects earnings per share to reach $20 over the same period.
Meanwhile, Jensen Huang, CEO of AMD rival Nvidia, has said that the broader artificial intelligence infrastructure market will grow to $3 trillion to $4 trillion by 2030.
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