Meta, OpenAI, and Microsoft announced they will use AMD's new AI chip called Instinct MI300X, showing demand for alternatives to Nvidia's expensive GPUs dominating the AI market. Meta, Microsoft, and Oracle cloud services said they plan to use the MI300X for AI tasks like processing images and stickers and assisting with AI models, showing confidence in it as a competitor. AMD still only expects $2 billion in data center GPU revenue by 2024, compared to Nvidia's over $14 billion last quarter. AMD hopes to gain market share of the projected $400B AI chip market by 2027.