Nvidia Loses $711B in Value While AMD Secures 10,000-Chip Talks with Upstage
Nvidia and AMD saw a combined $711 billion in market value erased after steep post-earnings selloffs, despite Nvidia’s data center revenue hitting $193.7 billion, up 68% year-over-year. Meanwhile, Korea’s Upstage is negotiating to buy 10,000 AMD MI355 accelerators, signaling potential competition to Nvidia’s chip dominance in national AI projects.
1. Post-Earnings Market Value Decline
Nvidia and AMD stocks plunged after their latest earnings reports erased about $711 billion in combined market value. Nvidia reported $193.7 billion in data center revenue, up 68% from a year earlier, yet its shares fell back within days of the results as investors questioned near-term profit conversion and pricing pressure from customers developing in-house chips.
2. Upstage Pursues AMD MI355 Chips
South Korean AI startup Upstage is in talks to purchase 10,000 AMD MI355 AI accelerators, following a meeting between CEO Sung Kim and AMD’s Lisa Su. The move aims to diversify Upstage’s compute stack beyond Nvidia hardware for its 200 billion-parameter language model in a government-backed national AI competition and for sovereign AI deployments in Vietnam and the UAE.