Meta Platforms Inc (NASDAQ: FB), or former Facebook, has chosen Advanced Micro Devices Inc's (NASDAQ: AMD) EPYC chips, the chipmaker declared during its Accelerated Data Center Premiere event.
The companies collaborated to develop a high-performance, power-efficient processor based on the company's 3rd Generation EPYC processor.
AMD also announced upcoming EPYC processors codenamed "Genoa" and "Bergamo," taking at rival NVIDIA Corp (NASDAQ: NVDA).
AMD dubbed the Genoa processor as the "world's highest performance processor for general-purpose computing."
AMD's Q3 FY21 sales rose 54% year-on-year to $4.3 billion. The EPS surged 134% Y/Y.
"We believe AMD will continue to gain material server/PC share in 2021/2022driven by performance leadership, while Intel continues to struggle on10/7nm," Barclays analyst Blayne Curtis said.
Microsoft Corp (NASDAQ: MSFT) will also use the new AMD Milan X Chips in Azure, Street Insider reports.
Price Action: AMD shares traded higher by 11.50% at $152.02 on the last check Monday.
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