A new report from MosaicML had a look at the AI tech on offer from Nvidia and AMD. The goal was to see if AMD was set to become an Nvidia AI challenger anytime soon.

Nvidia dominates the market for the powerful chips that are used to create ChatGPT and other AI services that have swept through the technology industry in recent months. The popularity of those services has pushed Nvidia's value past $1 trillion and led to a shortage of its chips that Nvidia says it is working to resolve.

However, the shortage reminded companies that it was insane to rely on one supplier and that they needed to look elsewhere for backup.

MosaicML evaluated the AMD MI250 and the Nvidia A100, which are one generation behind each company's flagship chips but are still in high demand.

MosaicML found AMD's chip could get 80 per cent of the performance of Nvidia's chip, thanks mainly to a new version of AMD software released late last year and a new version of open-source software backed by Meta Platforms called PyTorch that was released in March.