Advanced Micro Devices Inc. (AMD) is set to unveil its latest chip designed to power 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) systems on Wednesday, a move that could help the chipmaker compete with Nvidia (NVDA) amid the AI boom.

The company is to launch the Instinct MI300 data center 澳洲幸运5官方开奖结果体彩网:graphics processing unit (GPU) accelerator, at Wednesday's AMD "Advancing AI" event. Alongside the new AI chip, AMD says it will "highlight the company's growing momentum with AI hardware and software partners."

AMD previously said it anticipates that MI300 will generate 澳洲幸运5官方开奖结果体彩网:$2 billion in sales in 2024.

At the event, 澳洲幸运5官方开奖结果体彩网:AMD could compare the capabilities of its new MI300 chip with Nvidia's H100, specifically highlighting memory content and🍌 bandwidth, Wedbush Securities analysts said in a Tuesday research note.

Nvidia, one of AMD's top 澳洲幸运5官方开奖结果体彩网:competitors, has been touted as one of the "澳洲幸运5官方开奖结果体彩网:best positioned" companies to gain up to 80% market share from the AI craze, according to Jefferies LLC analysis.

Nvidia 澳洲幸运5官方开奖结果体彩网:announced its latest and most powerful GPU, the H200, designed for use in AI, last month, although reports published in late November said that the chipmaker would 澳洲幸运5官方开奖结果体彩网:delay the release of its new AI chip to 2024 due to server maker integration issues. The Nvidia chip delay comes amid 澳洲幸运5官方开奖结果体彩网:investor concerns that U.S. 澳洲幸运5官方开奖结果体彩网:restrictions on chip exports to China are a significant 澳洲幸运5官方开奖结果体彩网:risk to Nvidia.

Microsoft (MSFT) could be involved in the AMD event, Wedbush suggested in its report, as the tech giant already 澳洲幸运5官方开奖结果体彩网:announced that it will add AMD's new chip to Azure, its cloud computing segment.

Wedbush analysts have written that AMD could benefit from future growth driven by its present AI investments, while Nvidia "alone is likely to realize" a sales boost from an AI chip "over the intermediate term," compared with its competing chip makers.

Jefferies analysts noted that with the launch of the MI300 chip, AMD is a "top pick," alongside Nvidia, as the firm holds a "positive view" on U.S. AI chipmakers in 2024.

AMD shares, which have gained 85% this year, were down 0.3% in late trading on Tuesday.