HomeAMD stock jumps on new data center chips and Facebook wins

AMD stock jumps on new data center chips and Facebook wins

Advanced Micro Devices (AMDOn Monday, it announced new specialized processors for various data center workloads. It also added Facebook as a client to its server segments. AMD stock rose on the news.




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During Online event, the Santa Clara, California-based company that showcased its growing momentum in data center and the latest high-performance processors.

AMD announced that meta pads (FB), the parent company of the social network Facebook, is the latest ultra-wide-cloud company to adopt AMD’s Epyc CPUs, or ECUs.

Facebook’s win was a surprise because it has only historically been used Intel Corporation (INTC) processors, Rosenblatt Securities analyst Hans Mosesmann said in a note to clients. AMD stock is rated as a buy with a target price of 180.

AMD stock pops

In the afternoon trading on stock market todayAMD stock jumped 10.6% near 150.85.

During the 40-minute event, CEO Lisa Su said that AMD is focused on manufacturing processors for four types of data center workloads. They include general purpose computing, technical computing, fast computing, and cloud-native computing.

“Our innovations in CPU, GPU (graphics processing unit), processes, and packaging enable AMD to deliver ground-breaking performance across the data center,” said Su.

New accelerators, server processors

On Monday, AMD launched its AMD Instinct MI200 Series Accelerators, which is optimized for high performance computing and AI workloads. The company described them as “the first exascale GPU accelerators.” AMD competes with nvidia (NVDA) in GPUs.

AMD also previewed the use of 3D chip encapsulation technology in server CPUs. 3rd generation AMD Epyc processors with AMD 3D V-Cache will provide an average performance increase of 50% across targeted technical computing workloads. The new chips will be launched in the first quarter of 2022.

In addition, AMD has shared more details about its data center roadmap, including for 4th generation Epyc processors.

AMD seen gaining market share

“The CPU announcements we’re seeing are disrupting Intel’s roadmaps and putting AMD in the lead for capturing more than half of the data center market by 2023,” Mosesmann said. In GPU computing, AMD has proven that it can outperform Nvidia GPUs in high-performance computing applications, he said.

On October 18, AMD stock exited a double bottom base in a buy point From 114.59, according to IBD Market Smith Graphs.

“This event provided further evidence/confidence in AMD’s strong and expanding data center position and roadmap,” Wells Fargo analyst Aaron Rackers said in a note to clients. He repeated his overweight, or buy, rating on AMD stock and raised his target price to 180 from 145.

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