AMD bets on AI chips amid 94pc profit plunge

News Snapshot:

AMD plans to ramp up production of its AI accelerator chips and plans to design specific semiconductors to bypass US export issues with China. US semiconductor giant Advanced Micro Devices – AMD – has shared a strong forecast for the year, despite issues in its latest quarterly results. The company’s second fiscal quarter saw revenue reach $5.35bn, a drop of 18pc compared to the same period last year. Operating income dropped by 104pc, leading to a loss of $20m, while AMD’s net income was only $27m for the quarter. This is a drop in net income of 94pc, mirroring the...