Looks like AMD has . finally done it After months of wrangling and being relegated to second fiddle against Nvidia's might in the AI hardware space, the company has finally offered more clarity about its future in the industry. Last week, the company its third-quarter earnings, and by all means, everything seemed to be doing A-OK. But what caught everyone's attention were comments surrounding the company's MI300 chips, the supposedly cheaper alternative to Nvidia's advanced H100 hardware, that currently serve as the backbone of servers training AI models. reported Specifically, AMD for the first time that it expected to sell a whopping $2 billion of its AI chips in 2024. According to Reuters, this is significant for a number of reasons: for one, the market at large had no idea up until the release of the company's earnings as to how much the company expected to sell these chips, so a sales forecast is a win for the company, indicating that there is demand for its product (and why wouldn't there be? Considering that Nvidia's hardware costs an arm and a leg!). told markets Second, with such a large sales figure, Reuters was again quick to point out that the MI300 chips may very well represent the fastest product to ramp to $1 billion in sales in AMD's history. This means the company is going to get very, very valuable in the future if it's able to pull the wool over Nvidia's eyes. Now, while AMD experienced a market rally, competitor Nvidia experienced the , all thanks to Joe Biden. exact opposite Ah, good ol' Joe. All it takes is one signature and somebody's day is ruined. Well, in this case, it was Nvidia's day that got ruined after it found out that it could not ship $5 billion worth of chips to Chinese companies under an export restriction placed by the Biden administration. Ouch! Nvidia ranked #31 on HackerNoon's Tech Company Rankings. 💻 Apple Brings Out the New Macs Big week for last week, though not without the company's share of troubles. Apple The world's most valuable company released its earnings this past week, and things might have looked OK, except that the company's stock after it warned that it might not sell as many devices during the holiday season, particularly iPads and wearables like the Apple Watch. took a bit of a hit The company is also facing stiff competition in places like China where competitor Huawei and other local smartphone sellers are creeping up on the iPhone manufacturer to win over consumers. Meanwhile, the company announced a new line of Mac PCs that will be powered by its redesigned and supposedly powerful M3 line of chips. The new PCs are focused on professionals, like those developing softwares, and are expected to perform better than previous-gen hardware that came with Intel chips. Apple ranked #3 on HackerNoon's . Tech Company Rankings 👋 You’re reading of HackerNoon's Tech Company News Brief, a weekly collection of tech goodness that combines HackerNoon's proprietary data with internet trends to determine which companies are rising and falling in the public consciousness. went live yesterday. Prefer reading the whole thing a day early AND in one go? No problemo! Just subscribe to receive the newsletter in your inbox every Tuesday. part 2 Part 1 here complete In Other News.. 📰 Sam Bankman-Fried might not be the last crypto criminal — via . The Verge Musk to integrate xAI with social media platform X — via . Reuters Lidl owner and Bosch Ventures co-lead $500M Series B into German AI start-up Aleph Alpha — via . TechCrunch Facebook and Instagram users in Europe can now opt out of ads — for a price — via . CNN Gaming has hits, but few know how big they are — via . Axios Google faces off with Epic Games as it enters its second antitrust trial in two months — via . CNBC And that's a wrap! Don't forget to share this newsletter with your family and friends! See y'all next week. PEACE! ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon *All rankings are current as of Monday. To see how the rankings have changed, please visit HackerNoon's page. Tech Company Rankings

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The Tech Company News Brief: AMD is Going to be A-OK!

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