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Aug 19, 2024 9:30 PM - Davit Kirakosyan(Last modified: Aug 20, 2024 3:25 AM)
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AMD (NASDAQ:AMD) shares rose more than 4% on Monday after the company announced that it has entered into a deal to acquire ZT Systems, a leading provider of AI infrastructure, in a cash and stock transaction valued at $4.9 billion. This move is aimed at boosting AMD's capabilities in the rapidly expanding AI data center sector, which is projected to reach a $400 billion market by 2027.
ZT Systems has over 15 years of experience developing AI compute and storage infrastructure for major global cloud companies. The acquisition is set to integrate ZT Systems' expertise in cloud computing solutions with AMD’s offerings, enhancing its ability to deliver comprehensive AI infrastructure solutions on a large scale.
AMD CEO Dr. Lisa Su called the acquisition a significant advancement in AMD's long-term AI strategy. The deal will bring ZT Systems' advanced systems design and rack-scale solutions into AMD’s portfolio, strengthening its data center AI systems and customer support capabilities. Dr. Su emphasized that this acquisition builds upon AMD’s ongoing investments in its AI hardware and software development efforts, positioning the company to lead in the evolving AI landscape.
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