OPINION: AMD CEO Lisa Su has built a strong and growing business from nearly nothing, just as larger rival Intel struggles to compete, writes columnist tpoletti.
Advanced Micro Devices Inc. finally gave investors a direct look at its data-center business Tuesday, and Wall Street should be happy with the business that Lisa Su & Co. have rebuilt.
AMD’s data-center business grew by 85% over past year as its Epyc server chips continue to find customers and Xilinx gets digested, while Intel’s business surprisingly shrank by 16%. Intel CEO Pat Gelsinger was forced to discuss yet another delay in rolling out a new server chip, code-named Sapphire Rapids, which had to be started over in the fab for volume production by the end of the year.
The news wasn’t all good, as concerns about the near future led shares to drop 6% in after-hours trading. Su admitted that cloud spending has slowed a bit in China, with Alibaba Group Holdings Ltd. BABA, +2.52% expected to report a sharp deceleration of growth in its cloud business. “But certainly with North America cloud, they’ve been very strong this year, and the forecasts are robust for next year,” she said.
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