Advanced Micro Devices (AMD) Q1 2024 Earnings Call Transcript

Advanced Micro Devices (AMD) reported its Q1 2024 earnings, highlighting a revenue increase to $5.5 billion, driven by significant growth in its data center and client segment sales, which both saw over 80% year-over-year growth. The data center segment alone grew 80% year-over-year to a record $2.3 billion, attributed to strong shipments of AMD Instinct MI300X GPUs and an increase in server CPU sales. AMD's gross margin also expanded by more than two percentage points, enhancing profitability.

Looking ahead, AMD is optimistic about its next-gen Turin family of EPYC processors and expects its data center GPU revenue to exceed $4 billion in 2024, up from the previously guided $3.5 billion. The company is also focusing on AI capabilities across its product portfolio, noting that AI represents a significant growth opportunity. AMD plans to continue its aggressive investment in R&D to capture this potential, particularly in data center growth and AI technologies.