AMD 通过客户承诺与收购改善 AI 产品组合，从而在数据中心 GPU 领域获取市场份额；其看涨逻辑在于无需取代 Nvidia 即可实现增长。
逐段跳播
这已经不再只是一场图形处理器（GPU）的竞赛了。AMD 和 Western Digital。AMD 让这件事变得更有意思，因为它在图形领域已经不再只是一个二线的替代选择。
this is no longer just a race for graphics (GPU). AMD and Western Digital. AMD makes this even more interesting because it's no longer just a second-string alternative in the graphics field.
我认为 AMD 的数据中心业务在上个季度达到了近 70 亿美元，而在过去一年里，我们看到 Meta、OpenAI 和 Anthropic，它们都已承诺投入我认为合计 14 吉瓦的 AMD GPU。
I believe that AMD's data center business reached nearly 7 billion in the last quarter, and over the past year we have seen Meta, OpenAI and Anthropic, all of which have committed to what I believe is 14 gigawatts of combined AMD GPUs .
我不认为 AMD 需要取胜才能取代 Nvidia。它只需要在一个快速扩张的市场中拿到更大的份额。
I don't think AMD needs to win to replace Nvidia. It just needs a larger share of a rapidly expanding market.
我提到的 AMD 正在 Western Digital 那里获得市场份额，而与此相关存在一些担忧。我们会放缓还是增长？
The AMD I mentioned is gaining market share in Western Digital, and there are some concerns related to that. Will we slow down or grow?
而且我认为，除了 Lisa 巧妙分享的内容之外，AMD 例如以 82 亿美元收购了 WorldLabs。我预计仅这笔收购就会让这家公司变得更聪明。也就是说，它们将能够更好地理解空间智能，以及开发先进 AI 模型的要求，从而使它们能够提升其产品组合的销售。
当然是它们的图形处理器产品组合，但也肯定包括它们的中央处理器这一块。我认为在审视 AMD 的整体图景时，这一点会很重要，也是它们已经预期在未来几个季度达到大数字的原因。
And I think, in addition to what Lisa cleverly shared, that AMD, for example, acquired WorldLabs for $8.2 billion . I expect that this acquisition alone will simply make the company smarter .
That is, they will be able to better understand spatial intelligence and the requirements for developing advanced AI models to enable them to boost their portfolio sales. Certainly their portfolio of graphics processing units , but certainly also their central processing unit side .
I think this will be important when looking at AMD’s overall picture, and the reason they are already expecting to reach big numbers in the coming quarters.
而且我相信，此外，它们还推出了 ZTE 系统。我认为，在具备设计能力的智能、以确保其产品组合适应先进 AI 模型不断演变的需求方面，这一点会很重要。
And I believe, in addition, that they introduced ZTE systems. I believe this will be important in terms of having the intelligence to design capabilities that ensure their portfolio adapts to the evolving needs of advanced AI models.
这个频道对 $AMD 的历次判断
Schwab Network 在这只股票上共 13 条判断，这里只列相邻的几条。