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AMD Q4 Pre-Earnings Report: $2 Billion in FY2024 is the GPU Baseline
As stated in our previous earnings write-up, it was confirmed the Q4 data center will grow 50% QoQ for an estimated $2.4 billion. To jog your memory, for Q4, the $400 million in GPUs are mainly from the El Capitan supercomputer. Per the opening comments last quarter: “Based on the rapid progress we are making with our AI road map execution and purchase commitments from cloud customers, we now expect Data Center GPU revenue to be approximately $400 million in the fourth quarter and exceed $2 billion in 2024 as revenue ramps throughout the year. This growth would make MI300 the fastest product to ramp to $1 billion in sales in AMD history.” As you’ll recall, this comment was important because it means commercial customers will contribute in 2024. This is primarily what the market will be watching – not only data center growth but any color provided for GPUs. Right now, $2 billion is the benchmark – let’s see if AMD can give us a higher number for FY2024.
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