Finance
AMD spikes after Amazon makes a big bet on its new processors
In this Sept. 10, 2007 file photo, a staff technician presents a 300 millimeter chip wafer at Advanced Micro Devices Inc. (AMD) in Dresden, eastern Germany.AP Photo/Matthias Rietschel
- AMD held a “Next Horizon” event on Tuesday, unveiling its 7-nanometer graphics products and microprocessors.
- During the event, AMD said Amazon will use its new processors for Amazon Web Services.
- That will give some Amazon Web Service customers lower prices for their cloud services.
- Watch AMD trade live.
AMD was rallying on Tuesday, up 7%, after Amazon said it would use AMD’s new line of processors for its cloud business.
During AMD’s “Next Horizon” event, the chipmaker unveiled its 7-nanometer graphics products and microprocessors, and said it was partnering with Amazon Web Services (AWS) to provide new general purpose (M5 and T3) and memory-optimized (R5) instance types with AMD EPYC processors that are 10% less expensive than the current M5, T3, and R5 instances.
Simply put, the agreement will give some customers lower prices for their Amazon cloud services.
The AMD-based instances provide additional options for customers who are looking to achieve cost savings on their Amazon EC2 compute environment for a variety of workloads, such as microservices and virtual desktops, Amazon said in a press release.
“One thing our customers agree on is that they all like lower prices,” said Matt Garman, vice president of AWS in a statement.
“Apart from adding to what is already the broadest and most capable set of compute services available in the cloud, these new AMD-based instances give customers an even lower priced way to run many of the most common applications.”
While Amazon showed confidence in AMD’s new 7nm data-center products, Morgan Stanley analyst Joseph Moore was bearish about the new lineup ahead of the event.
“Based partly on feedback from AMD, we wanted to be clear that EPYC 2 will not be shipping for revenue until next year (which has been our expectation), and calling this a product launch is probably an overstatement,” Moore said. He has a sell rating and price target of $17 for AMD — 15% below where shares were trading.
AMD was up 94% this year.
Read more stories on AMD:
Langdock raises $3M with General Catalyst to help businesses avoid vendor lock-in with LLMs
Internet users are getting younger; now the UK is weighing up if AI can help protect them
Taylor Swift’s ‘The Tortured Poets Department’ rollout reveals her inability to trust the listener
Dating culture has become selfish. How do we fix it?
Screen Skinz raises $1.5 million seed to create custom screen protectors
Consumer Financial Protection Bureau fines BloomTech for false claims
‘Big is moving to Paris’: Carrie Bradshaw discourse reignites as ‘Sex and the City’ hits Netflix
Klarna credit card launches in the US as Swedish fintech grows its market presence
How to set boundaries in the early stages of dating
Former top SpaceX exec Tom Ochinero sets up new VC firm, filings reveal
Apple sued, Microsoft’s AI ambitions and Nvidia’s surprises
TechCrunch Mobility: The wheels are starting to come off the Fisker EV bus
Lordstown Motors’ ousted CEO settles with SEC for misleading investors
DOJ’s Apple antitrust case neatly aligns with EU on one key point: NFC and mobile payments
Amazon Big Spring Sale 2024: Shop 350+ deals on Apple, robot vacuums, security cameras, more
What is the three-body problem in ‘3 Body Problem’?
API startup Noname Security nears $500M deal to sell itself to Akamai
Maju Kuruvilla is out as CEO of one-click checkout company Bolt
US think tank Heritage Foundation hit by cyberattack
Where’s the AI in these ‘AI-powered’ products for your home?
Langdock raises $3M with General Catalyst to help businesses avoid vendor lock-in with LLMs
Internet users are getting younger; now the UK is weighing up if AI can help protect them
Taylor Swift’s ‘The Tortured Poets Department’ rollout reveals her inability to trust the listener
Dating culture has become selfish. How do we fix it?
Screen Skinz raises $1.5 million seed to create custom screen protectors
Consumer Financial Protection Bureau fines BloomTech for false claims
‘Big is moving to Paris’: Carrie Bradshaw discourse reignites as ‘Sex and the City’ hits Netflix
Klarna credit card launches in the US as Swedish fintech grows its market presence
How to set boundaries in the early stages of dating
Former top SpaceX exec Tom Ochinero sets up new VC firm, filings reveal
-
Business7 days agoAPI startup Noname Security nears $500M deal to sell itself to Akamai
-
Entertainment6 days agoNASA discovered bacteria that wouldn’t die. Now it’s boosting sunscreen.
-
Entertainment7 days agoHow to watch ‘Argylle’: When and where is it streaming?
-
Business6 days agoTesla drops prices, Meta confirms Llama 3 release, and Apple allows emulators in the App Store
-
Business5 days agoTechCrunch Mobility: Cruise robotaxis return and Ford’s BlueCruise comes under scrutiny
-
Entertainment5 days ago‘The Sympathizer’ review: Park Chan-wook’s Vietnam War spy thriller is TV magic
-
Business4 days agoTesla layoffs hit high performers, some departments slashed, sources say
-
Business4 days agoMeta to close Threads in Turkey to comply with injunction prohibiting data-sharing with Instagram
