Reuters

AMD lands Meta as customer and takes on Nvidia, sending shares up 11%

(Reuters) -Advanced Micro Devices Inc on Monday said it has won Meta Platforms Inc as a data center chip customer, sending AMD shares up more than 11% as it cemented some of its gains against Intel Corp. It also announced a range of new chips aimed at taking on larger rivals such as Nvidia Corp in supercomputing markets, as well as smaller competitors, including Ampere Computing in the cloud computing market. After years of trailing the much larger Intel in the market for x86 processor chips, AMD has steadily gained market share since 2017, when a comeback plan spearheaded by Chief Executive Lisa Su put the company on a course to its present position of having faster chips than Intel’s.

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