As it announces strong quarterly results, AMD confirms that it’s putting gamers before crypto miners…
Chipmaker AMD surprised many with better than expected growth when it announced its first quarter results yesterday. The company, which has been facing questions over just how dependent it is on cryptocurrency miners for its performance graphics chip business, revealed that revenues were up 40% year on year to $1.65bn, and that net income had risen notably to $121m.
The bulk of AMD’s business remains from computing and graphics, with the company’s Ryzen PC processors and Radeon graphics chips both delivering for it. Furthermore – fuelled in part by the demand for performance processing products from crypto miners, the average selling price of its products has risen, too.
However, as part of the results announcement, the company’s CEO – Lisa Su – was keen to downplay a little the importance of blockchain and cryptocurrency to its growth.
“Our first priority is to gamers, that’s through OEM and system integrators and key e-tailers, and we’re going to continue to do that”, Su said.
She added that “we’ll also work with commercial miners … we’ve talked and see what their forecasts are, so we have good visibility on the market. The blockchain infrastructure is here to stay, there are numerous currencies and apps that will keep things going there”.
A shortfall in premium graphics cards has been blamed on miners, who continue to look for the most efficient way to mine as many coins as possible. For the minute, though, it seems AMD is very much enjoying the upside of that.