AMD reveals new AI chip challenging Nvidia’s dominance

On June 13, Advanced Micro Devices (AMD) revealed new details about an artificial intelligence (AI) chip that could challenge market leader Nvidia.The California-based AMD stated its most-advanced graphics processing unit (GPU) for AI, the MI300X, will start dripping out in the third quarter of 2023, with mass production start in the fourth quarter. AMDs announcement represents the most considerable challenge to Nvidia, which presently controls the market for AI chips with over 80% of the market share. AMD, renowned for its traditional computer system processors, stands to benefit from this possible shift in demand.Related: AI start-up by ex-Meta and Google researchers raises $113M in seed fundingAlthough AMD did not reveal particular rates details, this action could possibly exert downward price pressure on Nvidias GPUs, including models like the H100, which can carry rate tags of $30,000 or greater.