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Time Is Money

Jun 5, 2024 • 4 min read

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New AMD MI300X Chip
CrowdStrike Earnings

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New AMD MI300X Chip:

AMD has introduced the MI300X, its latest AI chip, as part of its Instinct Platform. This chip is designed to provide high performance and efficiency for artificial intelligence applications, especially large language models. The MI300X features 192 GB of memory and a memory bandwidth of 5.2 terabytes per second, making it a strong competitor to Nvidia's H100, which has less memory. The goal is to make AI technology more accessible and powerful by offering GPUs that can integrate easily into existing systems.
To boost its competitive position, AMD plans to use multiple MI300X chips in comprehensive AI computing platforms. The first such platform will include eight MI300X chips, providing a total of 1.5 terabytes of HBM3 memory. This approach is intended to help AMD capture a larger share of the AI accelerator market, which Nvidia currently dominates with over 75% of the market share. By offering powerful and efficient solutions, AMD aims to attract more customers in the AI sector.
Nvidia, on the other hand, continues to expand its range of AI products with new GPUs designed for both data center and PC applications. This expansion is part of Nvidia's efforts to maintain its leading position in the AI market and to meet the growing demand for advanced AI computing solutions.

CrowdStrike Earnings:

CrowdStrike Holdings, a leader in cybersecurity solutions, reported strong financial results for the fiscal first quarter ended in April, surpassing market expectations. The company achieved a revenue of $921 million, marking a 34% increase from the same period last year. This performance exceeded both CrowdStrike's guidance range of $902 million to $906 million and the Street consensus estimate of $905 million tracked by FactSet.
CrowdStrike reported adjusted earnings of 93 cents per share, higher than both the guidance range of 89 to 90 cents and the consensus estimate of 89 cents. According to generally accepted accounting principles, the company earned 17 cents per share. Additionally, free cash flow increased to $322.5 million from $227.4 million in the comparable quarter a year ago, highlighting the company's strong cash generation capabilities.
The company also saw significant growth in annual recurring revenue, which increased by 33% to $3.65 billion. Net new annual recurring revenue (ARR) grew by 22% to reach $212 million. Subscription revenue rose by 34% to $872.2 million, reflecting the ongoing demand for CrowdStrike's cybersecurity solutions. For the upcoming July quarter, CrowdStrike projects revenue between $958.1 million and $961.2 million, ahead of the Street consensus of $955 million. The company also expects adjusted earnings of 98 to 99 cents per share, surpassing the consensus of 91 cents.
CrowdStrike's success is largely attributed to its Falcon platform, a cloud-native endpoint protection solution that provides comprehensive security through a single agent. The platform integrates a variety of capabilities, including threat detection, response, and prevention, leveraging artificial intelligence and machine learning to stay ahead of evolving threats. By offering scalable and efficient security solutions, CrowdStrike has positioned itself as a leader in the cybersecurity industry, serving a wide range of customers from small businesses to large enterprises.

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