Stock Groups

AMD shares jump after company wins Meta partnership


Lisa Su (CEO and president of Advanced Micro Devices Inc.) presents the AMD Ryzen 4000 series chips at an AMD press conference in Las Vegas on Monday January 6, 2020.

Bridget Bennett | Bloomberg | Getty Images

AMDShares rose by more than 10% Monday, after the company declared it was winning MetaAs a chip customer, Facebook was once known as “Facebook”.

AMD unveiled a number of new chips in its annual shareholder meeting. Accelerated Data Center Premiere keynote

These announcements will help to cement AMD’s position against its competition. AMD has begun to take market share away from its market leader. IntelCloud providers such as Microsoft AmazonAnd Google buy its chips to run their services. AMD processors have shown performance gains over Intel’s competitors in the recent past.

Last monthAMD CEO Lisa Su stated that the company’s data center chips sales have doubled annually in the last quarter, and accounts for 20% of AMD sales. AMD’s semi-custom, embedded and enterprise segments report that the data center chips make up a portion of its business. $1.9 billion in sales last quarterThe number of people who have a job is up by 69% over the past year.

Su stated Monday that details regarding its partnership with Meta would be further discussed at the Open Compute Project summit later in this week.

Kif Leswing from CNBC contributed to this report.

Subscribe to CNBC on YouTube.