WSJ Tech News Briefing

Episode: Who Is Lisa Su, CEO of Nvidia's Biggest Challenger Yet?
Date: October 14, 2025
Host: Julie Chang (The Wall Street Journal)

Episode Overview

This episode explores how AMD, long in Nvidia’s shadow, is now a formidable contender in the AI chips race following a blockbuster OpenAI deal. WSJ reporter Robbie Whelan discusses the pivotal role of CEO Lisa Su in AMD’s stunning turnaround and market ascent. The episode also investigates Elon Musk’s high-risk, high-cost push to catch up with industry leaders by building massive data centers in Memphis for his company XAI.

Key Discussion Points & Insights

1. AMD's Dramatic Market Shift and Lisa Su’s Leadership

[00:18–01:44]

• Background:

  • Last week, AMD's shares spiked over 33% after inking a multi-billion dollar partnership with OpenAI, signaling its intent to compete directly with Nvidia.
  • Lisa Su, AMD’s CEO of 11 years, is recognized for leading this transformation.

• Lisa Su’s Style & Credentials:

  • Born in Taiwan, immigrated to the US at age 3.
  • Holds three MIT degrees in electrical engineering.
  • Known as an "engineer's engineer" with a strong grasp of both technical and business strategy.
  • Notable Achievement: First woman to win the Robert N. Noyce Medal (2021).
  • Quote:
    • "She just makes everyone who works for her think not only about how to optimize products in a technology sense, but also think about them in sort of an economic sense. Does this product make sense? Are the margins high enough? How can we design it in a way that selling it is going to get us a great return, not just a good return."
      – Robbie Whelan (02:50)

• Her Unique Edge:

  • Deep understanding of chip technology.
  • Balances product innovation and financial returns.

2. AMD’s Comeback Story

[03:19–04:20]

• Situation Pre-Lisa Su:

  • AMD had under 0% market share in data center CPUs and struggled to compete.
  • Product line was unfocused and lagging.

• Strategy Shifts:

  • Su overhauled AMD's approach, prioritizing differentiated, high-powered chips.
  • Focused on advanced computing solutions rather than commodity products.
  • Gained market share by aligning products to customer needs and advanced technology.

• Robbie Whelan on Historic Change:

  • "She completely redirected the company's approach to product development, and in a few short years, they started gaining market share." (03:54)

3. How Lisa Su Landed the OpenAI Partnership

[04:11–05:39]

• Laying the Groundwork:

  • Years of focusing on the data center space meant AMD was positioned to seize the AI moment.
  • In 2023, AMD released chips comparable to Nvidia's GPUs for data centers.
  • Cultivated relationships with top AI developers by tuning products to their evolving hardware needs.

• WSJ’s Take:

  • "Just being there in the mix and talking to customers about what they need in their data center hardware stack was what allowed Lisa Su to really position the company to go hard into AI chips."
    – Robbie Whelan (05:29)

4. Remaining Underdog Challenges

[05:39–06:13]

• Future Hurdles:

  • Continued need for new, high-stakes partnerships.
  • The challenge of rapidly rolling out next-gen chips and keeping up with Nvidia’s pace.
  • Ensuring AMD’s software stack can compete with Nvidia’s robust ecosystem.

• Market Position:

  • "Nvidia is clearly still the dominant player in this market. I mean, they're about 10 times larger than AMD or more. But you know, she does have a chance to kind of really keep on grabbing market share." – Robbie Whelan (06:03)

5. Elon Musk’s Memphis Data Center Bet

[07:02–12:10]

• Context:

  • Musk, typically an innovation leader, is now playing catch-up in AI after leaving OpenAI and launching XAI in 2023.
  • Memphis chosen for proximity to a large, convertible facility (old Electrolux factory) and strong support from local government and utilities.
  • Rapid buildout: Colossus 1 created in just 122 days; now working on even larger Colossus 2.

• Tech & Logistics:

  • Accelerated installation of 42,000 Nvidia chips, Tesla battery packs, and imported gas turbines to power the facility.
  • Emphasizes Musk’s resource lever-pulling (SpaceX investment, possible Tesla board authorization).

• Soaring Costs:

  • XAI raised $10 billion in 2025 alone; needs $18 billion more for near-term expansion.
  • Ultimate question remains: will Grok (XAI’s model) rival ChatGPT, and will demand justify massive investment?

• Memorable Quote:

  • "He sets all this up and in about 122 days they went from nothing to a fully functional standalone AI training facility, which was much faster than any company has ever been able to do in constructing a facility like this and at this size."
    – Alexander Saidi (09:57)
  • "There’s a new Data Center, Colossus 2, that's under construction. We reported they're going to need at least $18 billion just to buy the chips that they need to finish their first stage."
    – Alexander Saidi (11:00)

Notable Quotes

• Lisa Su (on Bloomberg Tech; on AMD’s strategy):
  • "Certainly there's a lot of engineering work, but our teams are working together on hardware, software. We're ensuring the supply chain. All of those elements are set up and ready to deliver on this massive commitment." (01:19)
• Robbie Whelan (on Su’s business approach):
  • "She just makes everyone who works for her think not only about how to optimize products in a technology sense, but also think about them in sort of an economic sense." (02:50)
• Alexander Saidi (on Musk’s urgency):
  • "He sets all this up and in about 122 days they went from nothing to a fully functional standalone AI training facility, which was much faster than any company has ever been able to do in constructing a facility like this and at this size." (09:57)

Key Segment Timestamps

• AMD & Lisa Su’s background: 00:18–01:44
• AMD’s turnaround & Su’s strategy: 01:44–04:20
• OpenAI partnership & implications: 04:11–05:39
• Challenges versus Nvidia: 05:39–06:13
• Elon Musk/XAI Memphis data centers: 07:02–12:10

Summary Takeaway

The podcast paints a vivid portrait of Lisa Su as a deeply technical and shrewd leader at the heart of AMD’s transformative rise, underlining the seismic impact of the OpenAI deal on the dynamics of the AI chip market. It also highlights the intensity and scale of Elon Musk’s “catch-up” play in AI infrastructure, underscoring both the opportunities and perils facing new entrants who strive to unseat dominant incumbents like Nvidia and OpenAI.