Advanced Micro Devices AMD recently announced that its EPYC 7002 series processors are powering the new Hewlett Packard Enterprise HPE Alletra 6000, a cloud-native data infrastructure storage solution.AMD’s EPYC 7002 series processors have the ability to scale from eight to 64 high-performance cores. The processors’ increased generational bandwidth of PCIe 4 offers up to three times faster performance than previous HPE Nimble Storage All Flash Arrays.Strong Demand for EPYC Aids AMD’s ProspectsAMD is benefiting from strong demand for EPYC processors. In first-quarter 2021, Enterprise, Embedded and Semi-Custom segment’s (39% of total revenues) revenues of $1.345 billion were up 286% year over year and 5% sequentially.AMD noted record server processor revenues as EPYC processor sales more than doubled on a year-over-year basis and grew by a strong double-digit percentage, sequentially. Advanced Micro Devices, Inc. Price and Consensus Advanced Micro Devices, Inc. price-consensus-chart | Advanced Micro Devices, Inc. Quote Markedly, in the server domain, AMD witnessed sequential increase in both second- and third-generation EPYC processors. Growing adoption of second-generation solutions was complemented by third-generation EPYC processors, which are successfully ramping into production amid new deal wins from major enterprise, cloud, and HPC companies.Markedly, third-generation EPYC processors offer 25% more performance per watt compared to their previous-generation counterparts and also offer leading per core and per socket performance across database, ERP, data analytics, Java, virtualization, cloud and supercomputing workloads.Expanding Clientele to Boost Top LineAMD is benefiting from sales of its Ryzen and EPYC server processors, owing to increasing proliferation of AI and Machine Learning (ML) in industries like cloud gaming and supercomputing domain. Further, the Xilinx acquisition is anticipated to boost AMD's data center business.The expanding clientele is also expected to drive AMD’s growth. Apart from HPE, this Zacks Rank #2 (Buy) company’s EPYC processors are now used by leading cloud players including Amazon Web Services (AWS), Alphabet GOOGL division Google Cloud and Microsoft Azure. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In fact, AMD’s EPYC 7003 series processors are now powering the new Perlmutter supercomputer at Lawrence Berkeley National Laboratory.Markedly, Perlmutter’s phase 1 features 1,536 nodes, each with one AMD EPYC 7763 processor and four NVIDIA NVDA NVlink-connected A100 Tensor Core GPUs. The phase 2 will add another 3,072 CPU-only nodes, each with two AMD EPYC 7763 processors and 512 GB of memory per node. +1,500% Growth: One of 2021’s Most Exciting Investment OpportunitiesIn addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.Click here to download this report FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Advanced Micro Devices, Inc. (AMD): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis Report Hewlett Packard Enterprise Company (HPE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research