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ADVANCED MICRO DEVICES, INC.

(AMD)
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Google's cloud taps AMD for new service as chip wars heat up

06/17/2021 | 09:06am EDT
FILE PHOTO: Logo of Google on a building at La Defense

(Reuters) - Advanced Micro Devices Inc and Alphabet Inc's Google Cloud on Thursday said Google will offer cloud computing services based on AMD's newest data center chip, a move likely to intensify AMD's push to grab market share from rival Intel Corp.

Cloud computing providers such as Google, Amazon.com Inc and Microsoft Corp are some of the biggest buyers of data center chips. They build services on top of the chips to rent the computing power out to millions of customers.

Google said on Thursday it will start offering services based on AMD's "Milan" server chip, which AMD released in March. Google said customers such as Snap Inc and Twitter Inc are testing the new AMD-based services.

AMD has been gaining market share against Intel, which was long the dominant player in data center chips but whose offerings have inferior performance on some measures because of years of stumbles in Intel's manufacturing operations.

Intel in April announced its "Ice Lake" chip competitor to AMD's "Milan" chip and said all major cloud providers would support it, but Intel has not said when Google will start offering services based on its latest chip.

(Reporting by Stephen Nellis in San Francisco; editing by Richard Pullin)

By Stephen Nellis


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADVANCED MICRO DEVICES, INC. 3.15% 106.19 Delayed Quote.15.79%
ALPHABET INC. -0.77% 2694.53 Delayed Quote.53.74%
AMAZON.COM, INC. -7.56% 3327.59 Delayed Quote.2.17%
INTEL CORPORATION 0.04% 53.72 Delayed Quote.7.83%
MICROSOFT CORPORATION -0.56% 284.91 Delayed Quote.28.10%
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Financials (USD)
Sales 2021 15 591 M - -
Net income 2021 2 788 M - -
Net cash 2021 4 341 M - -
P/E ratio 2021 47,0x
Yield 2021 -
Capitalization 129 B 129 B -
EV / Sales 2021 7,98x
EV / Sales 2022 6,79x
Nbr of Employees 12 600
Free-Float 98,7%
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Technical analysis trends ADVANCED MICRO DEVICES, INC.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 41
Last Close Price 106,19 $
Average target price 109,23 $
Spread / Average Target 2,86%
EPS Revisions
Managers and Directors
Lisa T. Su President, CEO & Non-Independent Director
Devinder Kumar Chief Financial Officer, Treasurer & Executive VP
John Edward Caldwell Chairman
Mark D. Papermaster CTO, Executive VP-Technology & Engineering
Keivan Keshvari Senior Vice President-Global Operations
Sector and Competitors
1st jan.Capi. (M$)
ADVANCED MICRO DEVICES, INC.15.79%128 805
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED9.43%538 129
NVIDIA CORPORATION49.36%485 915
INTEL CORPORATION7.83%217 942
BROADCOM INC.10.86%199 140
TEXAS INSTRUMENTS16.14%175 982