AMD Posts 38% Q1 Growth, Secures OneQode AI GPU Deployment Deal
AMD•AMD secured an AI infrastructure deal with OneQode to deploy Instinct MI355X GPUs (288 GB HBM3E, 8 TB/s) and Helios racks with MI450 GPUs (432 GB HBM4, 19.6 TB/s). It reported Q1 revenue up 38% YOY (data center +57%) and was downgraded from strong buy to buy after a 145% rally.
1. OneQode Collaboration
AMD will roll out Instinct MI355X GPUs featuring 288 GB of HBM3E memory and 8 TB/s bandwidth in the first phase, then scale to the Helios rack-scale solution with next-gen MI450 Series GPUs that offer 432 GB HBM4 and 19.6 TB/s per GPU, aiming for up to 1.4 exaFLOPS of AI compute per rack.
2. Q1 Financial Performance
In Q1, AMD delivered 38% year-over-year revenue growth, with its data center segment up 57% driven by CPU demand tied to AI workloads. After rallying 145% year-to-date, the stock was downgraded from strong buy to buy due to an expanded valuation despite bullish fundamentals.
3. AI Sector Momentum
Peer Cerebras Systems surged 68% on its IPO debut, signaling strong investor appetite for AI chip companies. This buoyant valuation environment may influence AMD’s future capital market prospects and highlight competition for AI infrastructure dollars.
