AMD becomes chip supplier to Meta and Facebook
AMD becomes chip supplier to...
Subscribe to Newsletter

AMD becomes chip supplier to Meta and Facebook

10 November 2021
3565
2 min.
5
AMD becomes chip supplier to Meta and Facebook

AMD chip supplier

AMD's (AMD) stock jumped to a new high on news of a partnership with Meta (Facebook's new name), which will use AMD chips for its data centres. AMD unveiled new Instinct MI200 accelerators and 3rd generation EPYC processors with AMD 3D V-Cache.

AMD (AMD) shares, up 95.44% over the past six months, jumped 10.14% to a new high price of $150.16 per share on Monday.

AMD's rising share price reflects the company's success in selling its data centre chips and the growing cloud computing and artificial intelligence technology industries.

AMD said on Monday that Meta Platforms (Facebook's new name) has become its customer, which will buy AMD EPYC processors as part of its data centre expansion efforts. Facebook had previously used Intel processors (INTC) for its data centres.

Facebook (FB) last month said it was changing its name to Meta and its share ticker to MVRS effective 1 December 2021 to show its commitment to virtual reality technology development.

Meta Platforms shares are up 24% since the start of the year, but lost 6% in the last quarter. The acquisition of Meta Platforms as a customer further proves the growing market share that AMD is capturing from Intel.

Cloud giants such as Microsoft (MSFT), Amazon (AMZN) and Google Alphabet (GOOGL, GOOG) are already buying AMD chips for their data centres.

AMD investors also welcomed the company's new products unveiled Nov. 8: the new AMD Instinct MI200 series accelerators, which the company said are "the world's fastest accelerators for high performance computing (HPC) and artificial intelligence (AI)," and a preview of the innovative AMD EPYC 3rd Generation processor with AMD 3D V-Cache.

EPYC data centre chips are becoming an increasingly important part of AMD's business, with sales for embedded, enterprise and semi-custom computing in Q3 totaling $1.9 billion of total revenues of $4.3 billion, up 69% from last year.

Companies5 in the news

Section:
Rating companies
Instagram
17 Mention
Netflix
14 Mention
X (Twitter)
10 Mention
TikTok
8 Mention
Tesla
8 Mention
Us Weekly
7 Mention
White House
6 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Population
8167150168
Died this year
51589698
Born this year
126919788