Nvidia is turning GPUs into capital, but questions exist around sustainability — AI companies are financing hardware like debt
Meanwhile, the company's operations in China have been shaped by a different kind of uncertainty. AMD has confirmed that it will pay a 15% export tax on MI308 shipments under revised export rules, and that it is ready to do so. Washington halted sales of the part in April before reopening a licensing process that allowed vendors to apply for restricted shipments.
AMD has told investors that the original controls would create up to $800 million in inventory and purchase-commitment charges, which makes re-entering the market on known terms a positive step, even with the additional fee. China will not be the main driver of AMD’s data-center revenue in the near term, but it remains one of the few regions with customers capable of absorbing large accelerator batches at short notice.
Su’s comments also addressed pressure from hyperscalers that are expanding their in-house silicon portfolios. She argued that AMD’s challenge is not matching any single rival but advancing its own roadmap quickly enough to capture the next wave of deployments.
In her view, each generation of AI models raises performance expectations, and the industry’s underlying trajectory supports sustained investment in training and inference clusters. For a company that has spent much of the past decade rebuilding its position in high-performance computing, the coming cycle will test how well that confidence translates into delivered hardware and long-term customer commitments.
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Key considerations
- Investor positioning can change fast
- Volatility remains possible near catalysts
- Macro rates and liquidity can dominate flows
Reference reading
- https://www.tomshardware.com/tech-industry/artificial-intelligence/SPONSORED_LINK_URL
- https://www.tomshardware.com/tech-industry/artificial-intelligence/lisa-su-rejects-talk-of-an-ai-bubble-at-wired-event#main
- https://www.tomshardware.com
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