AMD Soars as AI Chip Sales Prediction Bodes Well for Rivalry with Nvidia

A smartphone with a displayed AMD logo is placed on a computer motherboard in this illustration taken March 6, 2023. (Reuters)
A smartphone with a displayed AMD logo is placed on a computer motherboard in this illustration taken March 6, 2023. (Reuters)
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AMD Soars as AI Chip Sales Prediction Bodes Well for Rivalry with Nvidia

A smartphone with a displayed AMD logo is placed on a computer motherboard in this illustration taken March 6, 2023. (Reuters)
A smartphone with a displayed AMD logo is placed on a computer motherboard in this illustration taken March 6, 2023. (Reuters)

Shares of Advanced Micro Devices jumped 8% on Wednesday, after an upbeat AI chip sales forecast signaled the company was making progress in its bid to catch up with market leader Nvidia.

The optimism over AI chip sales helped ease worries about a disappointing fourth-quarter forecast and put it on course for market value gains of nearly $13 billion, based on the $106.41 share price.

CEO Lisa Su on Tuesday provided a 2024 sales forecast for the first time for the MI300 chips, designed to compete against the advanced H100 chips sold by Nvidia.

She projected annual sales of more than $2 billion, and raised the chip's current-quarter revenue expectations by $100 million.

That would make the MI300 the fastest product to ramp to $1 billion in sales in AMD's history.

"Hitting this milestone is likely a key first step towards proving AMD is the clear second source to Nvidia in the AI accelerator market," said analysts at TD Cowen.

The CEO also said the MI300 chips had won commitments from "multiple, large hyperscale customers", a term that refers to large tech and cloud computing companies.

AMD's shares have gained 61% this year through last close, but those gains pale in comparison to Nvidia's 184% rally.

Still, the conservative forecast and weakness in several of AMD's markets led at least 18 analysts to cut their price targets on the stock, pushing down the median view to $130, per LSEG data.

"Forecasts were below our prior estimates ... and it's quite possible that such estimates could be conservative," Morningstar analyst Brian Colello said.

While the PC market has been seeing signs of recovery, a weak gaming market and decline in demand for programmable chips used by industries such as wireless communications, healthcare and automotive have been a drag.



Microsoft Server Hack Has Now Hit 400 Victims, Researchers Say

A view shows the Microsoft logo on the day of the Hannover Messe, one of the world's largest industrial trade fairs with this year's partner country being Canada, as both Canada and the European Union face new US tariffs, in Hanover, Germany, March 31, 2025. (Reuters)
A view shows the Microsoft logo on the day of the Hannover Messe, one of the world's largest industrial trade fairs with this year's partner country being Canada, as both Canada and the European Union face new US tariffs, in Hanover, Germany, March 31, 2025. (Reuters)
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Microsoft Server Hack Has Now Hit 400 Victims, Researchers Say

A view shows the Microsoft logo on the day of the Hannover Messe, one of the world's largest industrial trade fairs with this year's partner country being Canada, as both Canada and the European Union face new US tariffs, in Hanover, Germany, March 31, 2025. (Reuters)
A view shows the Microsoft logo on the day of the Hannover Messe, one of the world's largest industrial trade fairs with this year's partner country being Canada, as both Canada and the European Union face new US tariffs, in Hanover, Germany, March 31, 2025. (Reuters)

A sweeping cyber-espionage campaign organization centered on vulnerable versions of Microsoft's server software has now claimed about 400 victims, according to researchers at Netherlands-based Eye Security.

The figure, which is derived from a count of digital artifacts discovered during scans of servers running vulnerable versions of Microsoft's SharePoint software, compares to 100 organizations cataloged over the weekend. Eye Security says the figure is likely an undercount, Reuters reported.

"There are many more, because not all attack vectors have left artifacts that we could scan for," said Vaisha Bernard, the chief hacker for Eye Security, which was among the first organizations to flag the breaches, Reuters reported.

The spy campaign kicked off after Microsoft failed to fully patch a security hole in its SharePoint server software, kicking off a scramble to fix the vulnerability when it was discovered. Microsoft and its tech rival, Google owner Alphabet, have both said Chinese hackers are among those taking advantage of the flaw. Beijing has denied the claim.

The details of most of the victim organizations have not yet been fully disclosed. Bernard declined to identify them.