Shares of Advanced Micro Devices (NASDAQ:AMD) rose nearly 2% intra-day today after the semiconductor maker provided details about its new artificial intelligence chip called the MI300X.

The MI300X chip is designed to accelerate processing times for generative AI programs like ChatGPT and similar chatbots. In an interview, AMD CEO Lisa Su explained that the technology will assist companies in managing service costs similar to ChatGPT.

During an event in San Francisco, AMD announced that the chip will be initially released in limited quantities in Q3, followed by mass production in the last three months of 2023.

AMD did not disclose specific customers, the cost, or the impact on sales for the MI300X or its smaller version.