AMD's Mi355X Beats Nvidia GPUs on Per-Gigawatt Margins Running Kimi K3, SemiAnalysis Finds

m2saxon · x · 2026-09-19

SemiAnalysis reports that running the 2.8T-parameter Kimi K3, AMD's Mi355X delivers 53.6% profit margins per gigawatt, beating GB200 NVL72 (44.3%), B300, and B200, thanks to lower TCO and better performance.

The numbers come from AgentX, their open-source agentic inference benchmark, with optimizations contributed by two engineers on the 2.8T model. If it holds up, this directly challenges the assumption that AMD can't compete in the inference compute market.

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