AMD shares jump after company wins Meta partnership

Lisa Su, president and chief government officer of Superior Micro Units Inc. (AMD), presents the AMD Ryzen 4000 sequence chip throughout an AMD press occasion at CES 2020 in Las Vegas, Nevada, U.S., on Monday, Jan. 6, 2020.

Bridget Bennett | Bloomberg | Getty Photos

AMD shares jumped greater than 10% Monday after the corporate introduced it gained Meta, previously referred to as Fb, as a chip buyer.

AMD additionally revealed a spread of recent chips in the course of the firm’s Accelerated Data Center Premiere keynote.

The bulletins assist cement the corporate’s push towards its opponents. AMD is within the means of taking market share from market chief Intel as cloud suppliers like Microsoft, Amazon and Google buy its chips to run their companies. AMD has gained some efficiency benefits over competing Intel processors in recent times.

Last month, AMD CEO Lisa Su stated that its knowledge heart chip gross sales doubled on an annual foundation in the newest quarter and the enterprise accounts for 20% of AMD’s gross sales. The information heart chips are a part of AMD’s embedded, enterprise, and semi-custom section, which reported $1.9 billion in sales last quarter, up 69% year-over-year.

Su stated on Monday that further particulars on its partnership with Meta will probably be mentioned later this week in the course of the Open Compute Challenge summit.

— CNBC’s Kif Leswing contributed to this report.

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