AMD Shares Updates and Talks Growth at Goldman Sachs Conference

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the 15 Best American Tech Stocks to Buy Right Now. On September 8, Forrest Norrod, the executive vice president and general manager of the Data Center Solutions Business Group at Advanced Micro Devices, Inc. (AMD), presented at the Goldman Sachs Communicopia + Technology Conference.

Norrod shared that Advanced Micro Devices, Inc. (NASDAQ:AMD) currently holds a 41% share of the server CPU market. He also pointed out that the company wants to grow in the GPU market and become a meaningful player by reaching a 20% market share. Following this, the company will be looking to grow its market share further over time.

Advanced Micro Devices, Inc. (NASDAQ:AMD) previously forecasted a $500 billion AI-accelerated total addressable market. Norrod believes this figure has gained more credibility today as AI adoption continues to accelerate.

He also expects the MI450 GPU series, which Advanced Micro Devices, Inc. (NASDAQ:AMD) plans to launch next year, to generate significant revenue. The company is preparing for seamless integration of the new series into customer infrastructures.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is an American multinational semiconductor company that specializes in graphics processing units (GPUs), microprocessors, and high-performance computing solutions. It serves various markets like gaming, data centers, and AI.

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Disclosure: None. This article is originally published at Insider Monkey.