AMD(US:AMD) Sou Hu Cai Jing·2025-09-22 04:59Core Insights - AMD, under the leadership of Dr. Lisa Su, transformed from a struggling company on the brink of bankruptcy to a market leader, at one point surpassing Intel in market capitalization [1][12][35] - Dr. Su's strategic decisions, particularly in the Chinese market, have sparked controversy amid U.S.-China tensions, yet she has maintained a focus on compliance and innovation [3][20][24] Company Overview - In 2014, AMD was facing severe financial difficulties, with stock prices plummeting to under $2 and a market cap of only $2-3 billion [4][12] - Dr. Su implemented significant reforms, focusing on high-performance computing and the development of the "Zen" architecture, which ultimately revitalized the company [7][12] Market Strategy - A crucial partnership in 2016 with China's Haiguang Technology, worth $293 million, provided AMD with essential funding and technology access [16][18] - Despite facing political backlash and accusations of aiding China, AMD has continued to pursue opportunities in the Chinese market, which accounted for 35% of its revenue in 2023 [22][24] Product Development - AMD has developed "China-specific" chips, such as the MI309, designed to comply with U.S. regulations while still serving the Chinese market [25][29] - The company is currently awaiting approval for the MI308 chip, which could restore shipments to China, highlighting its adaptive strategy in a challenging regulatory environment [29] Leadership and Vision - Dr. Su has positioned herself as a pragmatic leader, emphasizing the importance of market needs over political affiliations, while actively engaging with both U.S. and Chinese stakeholders [31][35] - Her compensation package remains among the highest globally, reflecting her success in increasing AMD's market value from billions to over $200 billion [35][37]