AI microchips

Meta and Microsoft say they will buy AMD’s new AI chip – Wall Street loves Artificial Intelligence

Meta, OpenAI, and Microsoft said they will use AMD’s newest AI chip, the Instinct MI300X.

An indication that tech companies want alternatives to the expensive Nvidia graphics processors that have been essential for artificial intelligence (AI).

If the MI300X is good enough and inexpensive enough when it starts shipping early next year, it will likely lower costs for developing AI models.

AMD CEO Lisa Su projected the market for AI chips will amount to $400 billion or more in 2027, and she said she hopes AMD has a sizable part of that market.

Wall Street rallies on AMD and Google AI news

Wall Street resumed its rally after a short break as technology giants intensified their AI race, pushing up tech stocks.

When you witness Google launching a new AI model (Gemini) and AMD chasing a slice of the hot AI chip market, you know a pre-Christmas cheer will wash over investors.

To think, just a handful of years ago, other than in Science Fiction novels, the term ‘artificial intelligence’ didn’t exist in our vocabulary and now it is becoming more and more integrated with our day-to-day lives.

Stock markets love it. AI is fast becoming a business necessity and not just an option.

AI chip image
Wall Streets love affair with AI – how long will it last?

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