Musk previously stated that Tesla plans to invest over $500 million in Nvidia Corp hardware this year, underlining the company’s significant commitment to advancing its technological capabilities (Elon Musk intends to add AMD chips).
Tesla Inc. CEO Elon Musk disclosed plans to acquire chips from Advanced Micro Devices Inc. as part of an extensive investment in computing hardware that bolsters artificial intelligence capabilities.
This move signifies Tesla’s commitment to advancing technology and harnessing AI for its innovative automotive and technology solutions.
After Elon Musk announced on his social media platform X that Tesla plans to allocate over $500 million for Nvidia Corp (Elon Musk intends to add AMD chips). hardware this year, he was queried about the possibility of purchasing chips from AMD. In response, Musk affirmed, “Yes.” While Nvidia currently leads in AI accelerators, and specialized processors for the data-intensive demands of artificial intelligence, competitors such as AMD are making strides in the market. Last month, AMD introduced the MI300 lineup, claiming it can execute AI software faster than its counterparts.
The disclosure led to an uptick of over 1% in AMD shares during after-hours trading on Friday. Earlier in extended trading, the shares had experienced a decline.
Musk’s affirmation of potential AMD chip purchases underscores Tesla’s strategic approach to diversify hardware sources and stay at the forefront of technological advancements, acknowledging the dynamic landscape and increasing competition in the Artificial intelligence hardware sector (Elon Musk intends to add AMD chips).
The ongoing investment reflects Tesla’s commitment to robust AI capabilities as it navigates the evolving realms of electric vehicles and innovative technologies.
Elon Musk has outlined Tesla’s ambitious investment plan of over $1 billion in Project Dojo by the end of 2024. Project Dojo involves the development of an in-house supercomputer designed to manage vast amounts of data, particularly video data from Tesla vehicles crucial for the creation of autonomous driving software. (source – Bloomberg)
Tesla’s strategy encompasses a dual approach, leveraging Nvidia technology and its proprietary Dojo project. During a recent earnings call, Musk stated, “We’re pursuing the dual path of Nvidia and Dojo, but I would think of Dojo as a long shot. It’s a long shot worth taking because the payoff is potentially very high.” This emphasizes Tesla’s commitment to exploring innovative solutions and investing in cutting-edge technology to advance its autonomous driving capabilities.
