As the era of AI computing begins to unfold in earnest, AMD was able to achieve record sales in its data center business, which grew a whopping 80% YoY.
As the era of AI computing begins to unfold in earnest, AMD was able to achieve record sales in its data center business, which grew a whopping 80% year-over-year to $2.34 billion in the first quarter of 2024 (and a more modest 2% sequentially). The big uptick in data center dollars helped AMD weather declining sales in its gaming segment, as both semi-custom and Radeon GPU sales skid in the first quarter.The totality of AMD’s revenue for Q1 2024 came to $5.47 billion, which is down 11% compared to the previous quarter but up a smidgen (2%) compared to the same quarter a year ago. As a result, AMD bolstered its net income to $123 million for the quarter, which is almost a complete 180-degree flip from a $139 million loss in Q1 2023.
« We delivered strong first quarter results with our Data Center and Client segments each growing more than 80% year-over-year driven by the ramp of MI300 AI accelerator shipments and the adoption of our Ryzen and EPYC processors »” said AMD Chair and CEO Dr.
