Alphabet and AMD Q3 On Deck 10/29/24

TechCheck

CNBC

Disruptors, Investing, Faang, Technology, Business, Management, Cnbc, Tech

4.8 • 56 Ratings

🗓️ 29 October 2024

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

A big check on AI demand and spending is coming after the bell when Alphabet and AMD both report third-quarter results. Investors are looking to AMD’s print to see how it’s faring in its uphill climb to compete against Nvidia. Alphabet’s capex spending could also be a bellwether for how the rest of big tech earnings will shape up

Transcript

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0:00.0	A big check on AI demands coming after the belt tonight when AMD reports Q3 results.
0:05.6	Can the chipmaker show it's catching up to NVIDIA?
0:08.3	Our Sima Modi has that on today's tech check.
0:10.4	Hey Sima.
0:11.4	Well, Carl Sima.
0:13.0	Well, Carl, Amd is the only company in the entire universe that Wall Street actually sees as a real competitor
0:17.4	to Invidia.
0:18.6	CEO Lisa Sue has remained defiant, just marking 10 years at the helm of the company, and yet
0:23.6	AMD's path to success in AI has been challenged by product delays and
0:27.4	underwhelming announcements. Earlier this month, AMD revealed its newest AI
0:32.4	processor, the MI 325X, saying it's better than
0:35.7	Invidious H100 and an inference that's running AI models thanks to a new memory chip.
0:41.6	Following the launch, AMD stock witnessed
0:44.0	its biggest single day drops in September,
0:46.2	the opposite reaction to NVIDIA's Blackwell release in March,
0:49.8	which begs a question, if AI is a multi-billion dollar opportunity, why is Wall Street not sold
0:54.9	on AMD? Its market cap of $260 billion pales in comparison to NVIDIA's $3 trillion.
1:01.1	AMD, though, is slowly growing market share and making a series of
1:04.3	strategic acquisitions including ZT systems that gives it more exposure to
1:08.6	servers, infrastructure, and makes it more competitive with Invidia which has become sort of the one-stop
1:14.4	shop for all AI infrastructure and data center needs. Bank of America
1:18.4	analyst Vivic Aria writes to clients that AMD needs to convince Wall Street that it's able to speed up its progress. to one year or more behind Invidia. Sue will have the opportunity tonight
	...

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