AMD has partnered with Meta, the holding company of Facebook. The deal could see Meta buying large stocks of AMD processors and compute accelerators to drive its next-gen server infrastructure. Sales of enterprise processors doubled year-over-year for AMD, and EPYC processors now account for 20% of the company’s revenues.
Taken from Yahoo Finance … Advanced Micro Devices (AMD) is about to enter the metaverse. The chip giant said its EPYC chips were selected by Meta (formerly known as Facebook) to help power its data centers at its virtual Accelerated Data Center Premiere event Monday. AMD explained the two companies worked together to develop a high-performance, power-efficient processor based on the company’s 3rd Generation EPYC processor.
“Adding Meta is certainly a very significant piece,” AMD CEO Dr. Lisa Su said on Yahoo Finance Live.
Shares of AMD shot higher by 10% in afternoon trading.
The high-profile win accompanied several announcements from AMD, including some specifics around upcoming EPYC processors codenamed “Genoa” and “Bergamo.” AMD dubbed the Genoa processor as the “world’s highest performance processor for general purpose computing.”
Su told Yahoo Finance Live we are living through a high-performance computing “megacycle” that shows no signs of slowing down.
AMD continues to be one of the hottest tech stocks in the market as it wrestles market share away from rival Intel.
Shares of AMD are up 65% year to date, out-performing the Nasdaq Composite’s 24% gain. Intel’s stock is up 2% on the year, while Nvidia has skyrocketed 127%.
Source: Yahoo Finance