AsianFin -- U.S. chip giant AMD's Chairperson and CEO Lisa Su and her executive team paid a visit to the headquarters of Lenovo Group on Monday in Beijng, kicking off her week-long visit in China.
AsianFin learned that Su will deliver a speech in the "Advancing AI" conference on Tuesday and also participate in the China Development Forum, which lasts from March 23 to March 24.
Meanwhile, Nvidia, AMD's archrival in AI computing, will participate in GTC held from March 17 through March 21.
Data center business is a large market and China is a tremendous market. AMD has the combination of strong data center business and powerful PC product lineup ... AI is a vital technology in next few years, she told AsianFin last March.
In June 2014, Su became the CEO of AMD, the first female CEO in the history of the company. She became the senior vice president of AMD in January 2012 to supervise the company's global business and end-to-end business execution. She played a major role in the strong performance of the company's PC business.
Su, 55, had worked at TI, IBM and Freescale Semiconductor. She holds a Ph.D. degree in electric engineering from MIT.
According to AMD's financial report for the fourth quarter of 2024 and fiscal year 2024, the company's fourth-quarter revenue reached $7.658 billion, representing a 24% increase compared to $6.168 billion in the same period last year. However, net profit was $482 million, a 28% decline year-over-year, while the adjusted net profit, not in accordance with U.S. Generally Accepted Accounting Principles (GAAP), was $1.777 billion.
For the full year of 2024, AMD's total revenue was $25.785 billion, up 14% from $22.680 billion in fiscal year 2023. Gross profit was $12.725 billion, a 22% increase compared to $10.460 billion in fiscal year 2023. Notably, in 2024, AMD's revenue in China reached $6.231 billion, accounting for 24.2% of the company's total global revenue.
In 2024, sales of AMD's Instinct chips exceeded $5 billion. Its data center business revenue amounted to $3.9 billion, contributing nearly half of the company's total revenue of $7.1 billion.
According to new export control regulations from the U.S. Department of Commerce, Chinese companies are currently unable to procure AMD's MI300 series AI chips.
Explore more exclusive insights at nextfin.ai.