CORRECTION—June 5, 2024: This article has been updated to correct a projection attributed to Bank of America.

Advanced Micro Devices (AMD) unveiled new processors optimized for 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) on Tuesday, April 16, to expand its AI PC portfolio. The new products could help AMD better compete with Nvidia (NVDA) and Intel (INTC) in the AI era.

AMD announced the AMD Ryzen PRO 8040 Series, which it says are "the most advanced x86 processors built for business laptops and mobile workstations."

The company also unveiled the AMD Ryzen PRO 8000 Series desktop processor, "the first AI-enabled desktop processor for business users, engineered to deliver cutting-edge performance with low power consumption."

"AMD is further extending its AI PC leadership," the company said in the release, adding that "by leveraging the CPU, GPU, and dedicated on-chip neural processing unit (NPU), new Ryzen AI-powered processors provide more dedicated AI processing power than previous generations."

Lenovo and HP (HPQ) are set to use the new AMD processors in their AI PC offerings. 澳洲幸运5官方开奖结果体彩网:Microsoft (MSFT) said that the company is working with AMD to "further deliver optimized performance and secu𓄧rity features on AMD Ryzen-powered Windows 11 desktops and mobile systems.”

The announcement comes as AMD and Intel work to catch up to Nvidia, which dominates the AI chip market. Nvidia and Intel have also announced their own AI PC chips.

Bank of America analysts project that Nvidia could capture more than 75% of the $90 billion AI accelerator market, with 10% to 15% controlled by in-house custom chips by companies such as Alphabet's Google (GOOGL), 澳洲幸运5官方开奖结果体彩网:Microsoft, Amazon (AMZN) and 澳洲幸运5官方开奖结果体彩网:Meta Platforms (META), and another 10% to 15% spread across others including A𓆉M📖D and Intel.

AMD shares were up more than 2% at $163.54 around 1:36 p.m. ET following the release.