AMD Expands AI Portfolio With $4.9B Purchase of ZT Systems
AMDAMD(AMD) Investopedia·2024-08-19 22:16

Key TakeawaysAdvanced Micro Devices is adding to its artificial intelligence (AI) portfolio by purchasing data center infrastructure provider ZT Systems.AMD valued the acquisition at 4.9billion,inclusiveofacontingentpaymentof4.9 billion, inclusive of a contingent payment of 400 million depending on certain milestones being reached.CEO Dr. Lisa Su said adding ZT Systems was the next major step in AMD's long-term AI strategy. Advanced Micro Devices (AMD) took another big step in expanding its reach into artificial intelligence (AI) with the purchas ...