Advanced Micro Devices, Inc. (NASDAQ:AMD) showcased new technology that can bring 360 video and Virtual Reality at the Mumbai Film Festival organized by the Mumbai Academy of the Moving Image (MAMI).
Used in conjunction with Radeon™ Pro Graphics, the new technology is being used initially to develop content to promote the upcoming Baahubali: The Conclusion, a movie directed by SS Rajamouli scheduled to premiere on April 28, 2017.
Under the creative direction of SS Rajamouli, Arka Media Works and AMD’s Radeon Technologies Group (RTG) are using the new technology to collaborate on two pieces of compelling VR content: a 360-degree video titled “On the Sets of Baahubali” and a fully immersive VR experience, “The Sword of Baahubali.” On the Sets of Baahubali is available now, and was shown to attendees of MAMI on October 22nd and 23rd along with early takes of The Sword of Baahubali. “We are beyond thrilled to have Baahubali: The Conclusion and AMD’s Radeon Technologies Group showcase the world’s most advanced VR experience for the first time here at MAMI,” said Anupama Chopra, director of the JIo MAMI 18th Mumbai Film Festival with Star.
“As humans we are at awe when we experience things of large scale — both natural and man-made,” said Rajamouli, director for both Baahubali films. “We are at awe when we see the Grand Canyon, we are also at awe when we stand next to 2,722 feet tall man-made Bhurj Khalifa. I have been fascinated by the possibilities with scale since the first time I experienced VR. Through collaboration with AMD’s Radeon Technologies Group we have been fortunate to get access to cutting edge VR technologies that are helping us to push the boundaries like never before.”
To create these experiences, AMD has built the radical new VR capture camera — the bb360cc — and leading-edge 360-degree video stitching software. The bb360ccprovides real-time VR preview and up to 32 cameras. Using AMD-created Project Loom software, videographers can rapidly stitch 360-degree video, often in real-time or nearly so, eclipsing the time needed using alternative techniques. The open source Project Loom software is expected to be widely available to content creators by the end of the year.
“AMD is committed to bringing VR to millions across the globe and that includes enabling filmmakers to provide cinematic quality to a VR experience,” said Raja Koduri, senior vice president and chief architect, Radeon Technologies Group, AMD. “On the Sets of Baahubali is being shot with the new bb360cc camera and the teaser clips being shown a MAMI are easily the most stunning 360 video yet experienced. The Sword of Baahubali is a very ambitious real-time computer graphics VR experience that is designed to push the limits of next generation GPU hardware.”
“We’re excited to be working with AMD’s Radeon Technologies Group to create state-of-the-art VR experiences,” said Shobu Yarlagadda, co-founder and CEO of Arka Media Works. “We are targeting the release of The Sword of Baahubali in April, 2017 around the release of the film. We already have a few hundred theaters planning to install the VR equipment to support the launch of this extraordinary and compelling VR experience.” (Original Source)
Shares of Advanced Micro Devices closed yesterday at $7.00, up $0.49 or 7.44%. AMD has a 1-year high of $8.00 and a 1-year low of $1.75. The stock’s 50-day moving average is $6.51 and its 200-day moving average is $5.38.
On the ratings front, AMD has been the subject of a number of recent research reports. In a report issued on October 21, Mizuho analyst Vijay Rakesh reiterated a Hold rating on AMD, with a price target of $7.00, which represents a slight downside potential from current levels. Separately, on the same day, Jefferies’ Mark Lipacis reiterated a Buy rating on the stock and has a price target of $9.00.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vijay Rakesh and Mark Lipacis have a total average return of 24.0% and 20.3% respectively. Rakesh has a success rate of 68% and is ranked #23 out of 4190 analysts, while Lipacis has a success rate of 74% and is ranked #12.
The street is mostly Neutral on AMD stock. Out of 15 analysts who cover the stock, 9 suggest a Hold rating , 5 suggest a Buy and one recommends to Sell the stock. The 12-month average price target assigned to the stock is $7.18, which represents a slight upside potential from current levels.
Advanced Micro Devices, Inc. is a global semiconductor company that develops computer processors and related technologies for business and consumer markets. It design and integrate technology for intelligent devices, including personal computers, game consoles and cloud servers. The company operates through the following segments: Computing and Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop, notebook processors, chipsets, discrete GPUs and professional graphics. The Enterprise, Embedded and Semi-Custom segment includes server and embedded processors, dense servers, semi-custom SoC products, engineering services and royalties.