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AMD shares dip 2% amid AWS AI chip demand concerns

Published 2024-12-06, 03:26 p/m
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Shares of Advanced Micro Devices (NASDAQ:AMD) fell by 2% on Friday as trading drew to a close, following revelations from a Business Insider report regarding the status of AMD's artificial intelligence (AI) chips with Amazon (NASDAQ:AMZN) Web Services (AWS). Despite AMD's recent upward revision of its AI chips sales forecast, AWS has not yet decided to offer cloud access to AMD's MI300 series AI chips, primarily due to a lack of substantial customer demand.

Last year, AWS expressed interest in potentially providing cloud access to AMD's latest AI chips, but 18 months have passed without a firm commitment. The hesitation from AWS stems from customer demand levels that have not reached the heights necessary to justify the integration of AMD's AI chips into AWS's cloud service offerings. Gadi Hutt, the senior director for customer and product engineering at Amazon's chip unit, Annapurna Labs, emphasized the importance of customer interest in determining their product offerings. During the AWS re:Invent conference this week, Hutt mentioned, "We follow customer demand. If customers have strong indications that those are needed, then there's no reason not to deploy."

Despite the lukewarm response from AWS for the AI chips, the relationship between AWS and AMD remains strong. AWS currently provides cloud access to AMD's CPU server chips, and according to Hutt, AMD's AI chip product line is still being considered for future deployment.

The report comes as AWS continues to support other AI chip technologies, including those from Nvidia (NASDAQ:NVDA). At the same re:Invent conference, AWS announced the introduction of P6 servers equipped with Nvidia's latest Blackwell GPUs, highlighting the competitive landscape in which AMD's AI chips are trying to gain traction.

AMD has not commented on the report or the current state of demand for its AI chips as indicated by AWS's assessment. The market leader in AI chips, Nvidia, remains a significant player, and AWS's decision to launch servers with Nvidia GPUs suggests a continued preference for Nvidia's technology in the cloud computing space.

In the broader context of AWS's chip partnerships, Hutt also discussed AWS's ongoing relationships with other major tech companies, including Nvidia, Anthropic, and Intel (NASDAQ:INTC), during his interview at the re:Invent conference.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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