Zinger Key Points
- AMD hires Nvidia's Keith Strier to lead global AI strategy and expand ecosystem capabilities.
- AMD aims to boost AI market share, plans $4.9 billion acquisition of ZT Systems.
- Get New Picks of the Market's Top Stocks
Advanced Micro Devices, Inc AMD, has hired Keith Strier of Nvidia Corp NVDA as senior vice president of global artificial intelligence markets.
Strier will lead AMD’s AI vision, driving new ecosystem capabilities and accelerating strategic AI engagements globally across public and private sectors.
He recently served as vice president of worldwide AI initiatives at Nvidia, where he was responsible for expanding commercial engagements with foreign governments.
Also Read: Microsoft’s AI PCs Stumble With Game Compatibility: Report
Nvidia’s rival AMD remains engaged in gaining market share through plans to acquire AI server company ZT Systems for $4.9 billion.
At the same time, it grappled with its Ryzen 9000 series sales, as analysts, including Oppenheimer’s Rick Schafer, Truist Securities’ William Stein, and Wedbush Securities’ Matt Bryson, tout Nvidia as the critical AI play.
Microsoft Corp’s MSFT new Windows AI features will arrive on some AMD and Intel Corp INTC laptops in November, the Verge reports.
JPMorgan analyst Harlan Sur expects AMD to grow data center GPU revenue by $5 billion in fiscal 2024, backed by server and PC CPU market share wins.
AMD stock gained 24% in the last 12 months versus Nvidia’s 123%.
Investors can gain exposure to AMD through Vanguard Information Tech ETF VGT and iShares Semiconductor ETF SOXX.
Price Action: AMD stock is up 2.49% at $140.35 premarket at last check Wednesday.
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