AMD Projects $4 Billion in AI Chip Sales for 2024 Amidst Gaming Revenue Decline

Despite a 48% drop in gaming revenue, AMD forecasts significant growth in AI chip sales, contrasting with a broader slump in the gaming sector.

AMD has updated its 2024 revenue guidance for AI chips to $4 billion, up from an earlier forecast of $3.5 billion, indicating strong demand in the AI sector.
The company's gaming revenue has plummeted by 48% year-over-year, attributed to decreased sales in gaming consoles and PCs.
AMD's data center segment saw an 80% increase in revenue, driven by sales of its MI300 AI chip.
Despite the gaming downturn, AMD's overall revenue rose slightly, showing resilience in its data center and AI chip divisions.
AMD's AI chips, including the MI300 series, have garnered over $1 billion in sales since their launch, underscoring their market impact.