Even though fellow companies like AMD have seen their stock prices double this year, they are keen to break Nvidia's dominance in the sector, where it enjoys up to 95 percent market share. The recent unveiling of its new AI-focused chip from AMD was an attempt in this direction but did not get much traction on Wall Street.At an event on Tuesday, AMD CEO Lisa Su unveiled the company's MI300 chips with a maximum memory of 192 GB.
, and promises 480GB of CPU memory. The memory of AMD's newest chip might seem like a trickle, but the company is confident it will work faster in customer workloads. Even though the chip is being offered in two variants, the MI300X and MI300A, AMD did not name any prospective customer for the chip or any details on how it plans to achieve higher sales. This dented investor hopes on Wall Street, sending stock prices down.