RESOLVING THE LEDGER
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In the early days of artificial intelligence (AI), Advanced Micro Devices (NASDAQ: AMD) looked like it would be nothing more than an afterthought to the dominant Nvidia . However, AMD CEO Lisa Su has managed to position the company to be a big AI winner in the coming years.
This started with the bold move of striking a deal with OpenAI, where Su was willing to give the frontier AI model company an up to 10% stake in AMD. In exchange, OpenAI committed to buying 10 gigawatts of AMD's graphics processing units (GPUs) to run inference for its models. It was a deal worth in excess of $100 billion, but more importantly, the size of the commitment would require OpenAI to incorporate its ROCm software platform into its systems. Meta Platforms would sign a similar deal shortly afterward.
At the same time, Su bet that AMD's innovative chiplet design, which is devised to function as part of a larger interconnected system and could be packaged with more memory, would become ideal for inference, a market expected to grow larger than training. She also went out and acquired ZT Systems so the company could start selling complete rack systems.
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