AMD CEO Making Progress with US on China Export Restrictions (Full Interview)

Описание: Advanced Micro Devices shares fell on Wednesday after the company failed to deliver a clear outlook for resuming sales in China, a crucial market for the second-largest maker of artificial intelligence processors. CEO Lisa Su speaks to Bloomberg Television as tariff concerns overshadow its upbeat AI Forecast.

Advanced Micro Devices Inc. Chief Executive Officer Lisa Su said the chipmaker has seen positive signs in demand for all its products and is making progress on getting US government approval to return to the China market.
Su told Bloomberg Television that investors shouldn’t be distracted by the near-term complications of trying to navigate Chinese export restrictions — and should focus on the underlying strength in all of the company’s markets. Concerns about AMD’s ability to sell chips in China had weighed on the stock Wednesday, sending the shares down as much as 9.5%. 
“We are seeing a lot of positive signals over the last 90 days in terms of what the market needs from computing,” she said Wednesday on the Bloomberg Tech show. On the status of approvals to resume exports to China, Su said, “We have a number of licenses under review, and we’ve been given good indications those are moving through the process.”
AMD’s stock began to pare its losses following Su’s comments. As of noon in New York, it was down 6.6% to $162.81.
The China concerns overshadowed a generally upbeat earnings report from AMD on Tuesday evening, when it gave a sales forecast that outpaced analysts’ expectations. The company is seeing surging demand for AI accelerator chips, which are used to develop and run artificial intelligence models. 
That market will drive growth in the second half of this year, Su said, reiterating a prediction that it will generate tens of billions of dollars of new revenue over the next “couple of years.” AMD has in the past given more precise targets.


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