Advanced Micro Devices

Nearly All Wealth Gained By World’s Rich This Year Comes From AI

15Feb

By adminNo Comments

Technology

Nearly All Wealth Gained By World’s Rich This Year Comes From AI

[ad_1] Nvidia Corp. co-founder Jensen Huang's wealth has surged as a blistering rally in AI-related stocks pushed the chipmaker's market value above Amazon.com Inc.'s for the first time. The same rally has minted another billionaire in Huang's own family: his distant cousin Lisa Su, chief executive officer of Nvidia competitor Advanced Micro Devices Inc., who's worth $1.2 billion after the stock doubled over the past year. Two chipmaker billionaires in one family illustrates the scope of the artificial intelligence craze, which has come to dominate the stock market and accounts for most of the wealth gained by the world's richest people this year. Among the 500 wealthiest individuals, 30 attribute at least some of their fortune to companies that are tracked by the Bloomberg Global Ar...

Beyond The Likes of Nvidia Corp and AMD, Chip Market Troubles Pose Threats After AI Euphoria

[ad_1] This year's AI stock frenzy has papered over cracks in the semiconductor market. Beyond the enthusiasm for the likes of Nvidia Corp. and Advanced Micro Devices Inc., it's a mixed picture for investors. Recent earnings pointed to slumping industrial and networking chip markets, while some on Wall Street are bracing for the impact of a potential economic slowdown on automobile chips. On the flip-side, smartphone components and personal computers look set for recovery, according to Samsung Electronics Co. and Intel Corp. “It's important to avoid painting semis with a broad sector brush,” said Brent Fredberg, portfolio manager at Brandes Investment Partners. “The concern is that the industry may now be entering a period of excess inventory digestion.” Broadcom Inc., which has gai...

Microsoft Is Helping Finance AMD’s Expansion Into AI Chips

[ad_1] Microsoft Corp. is working with Advanced Micro Devices Inc. on the chipmaker's expansion into artificial intelligence processors, according to people with knowledge of the situation, part of a multipronged strategy to secure more of the highly coveted components.The companies are teaming up to offer an alternative to Nvidia Corp., which dominates the market for AI-capable chips called graphics processing units, said the people, who asked not to be identified because the matter is private. The software giant is providing financial support to bolster AMD's efforts, and working with the chipmaker on a homegrown Microsoft processor for AI workloads, code-named Athena. AMD shares jumped more than 6.5% on Thursday, and Microsoft gained about 1%. Representatives from both companies decl...