Blockchain is Important But “A Bit of Distraction”, Says AMD CEO

Blockchain is Important But “A Bit of Distraction”, Says AMD CEO

Blockchain Finance News
April 27, 2018 by Bitzamp
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Lisa Su, CEO of AMD, one of the largest GPU Manufacturing firm, stated that Blockchain is a bit of a distraction in the short term during an interview with CNBC. Discussing AMDs huge quarterly performance, Su admitted the importance of blockchain stating “It’s a very important technology […] The idea you can do all these
Blockchain is Important But “A Bit of Distraction”, Says AMD CEO

Lisa Su, CEO of AMD, one of the largest GPU Manufacturing firm, stated that Blockchain is a bit of a distraction in the short term during an interview with CNBC.

Discussing AMDs huge quarterly performance, Su admitted the importance of blockchain stating “It’s a very important technology […] The idea you can do all these peer-to-peer transactions, a decentralized network, it’s a good technology, but frankly l think it’s a bit of a distraction, in the short term.”

AMD is one of the many companies responding to the increased demand for GPUs, and while the company benefits considerably from the mining craze it has remained skeptical of cryptocurrencies and blockchain.

Citing 23% of blockchain input in the first quarter of 2018 revenue, an interviewer asked if the company was downplaying the role of Ethereum mining hardware in its quarterly performance.

Su replied:

“We believe blockchain or mining was about approximately 10 percent of our revenue during the quarter. It’s a nice growth factor, but it’s certainly not the dominant growth factor in our story.”

 


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