Advanced Micro Devices is set to discuss its artificial intelligence chip and systems businesses at an analyst day in New York. AMD aims to compete with Nvidia in the data center chip market while expanding its AI offerings. The company plans to launch the MI400 series of AI chips in 2026.

AMD will present financial forecasts at the analyst day, including projections for its PC and video game chip businesses. The company recently forecasted fourth-quarter revenue above expectations, driven by demand for AI chips. The event will take place at 1 p.m. EST.

AMD signed a multiyear deal with OpenAI, expecting over $100 billion in revenue over four years. This partnership will help AMD catch up to Nvidia in the AI market. The arrangement includes warrants for OpenAI to purchase a stake in the chipmaker.

Read more at Yahoo Finance: AMD expected to outline plans for AI chip business at analyst day