.August 19, 2024 05:30:00 PM

AMD shares surged over 4% after announcing a $4.9 billion deal to acquire ZT Systems, a key player in AI infrastructure. ZT Systems brings 15 years of experience in cloud computing solutions, complementing AMD’s offerings and expanding its reach in the AI data center market projected to hit $400 billion by 2027. CEO Dr. Lisa Su sees the acquisition as a major step in AMD’s AI strategy, integrating ZT Systems’ advanced design and solutions to enhance AMD’s data center AI systems and customer support capabilities. This move solidifies AMD’s position as a leader in the evolving AI landscape.