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AMD shares leap after firm wins Meta partnership

Lisa Su, president and chief govt officer of Superior Micro Units Inc. (AMD), presents the AMD Ryzen 4000 collection 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 11% Monday after the corporate introduced it received Meta, previously often known as Fb, as a chip buyer.

AMD additionally revealed a spread of latest chips throughout the firm’s Accelerated Information Middle Premiere keynote.

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

Final month, AMD CEO Lisa Su mentioned that its knowledge middle chip gross sales doubled on an annual foundation in the latest quarter and the enterprise accounts for 20% of AMD’s gross sales. The info middle chips are a part of AMD’s embedded, enterprise, and semi-custom phase, which reported $1.9 billion in gross sales final quarter, up 69% year-over-year.

Su mentioned on Monday that further particulars on its partnership with Meta might be mentioned later this week throughout the Open Compute Undertaking summit.

— CNBC’s Kif Leswing contributed to this report.

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