AMD has introduced the Instinct MI350P, its first new PCIe Instinct GPU in four years following the MI210 in 2022, bringing the CDNA 4 architecture to a conventional add-in card with up to 4.6 PFLOPS of MXFP4 performance, 144GB of HBM3E, and 4TB/s of memory bandwidth in a dual-slot, 600W air-cooled card. The MI350P carries the most memory of any current PCIe accelerator, 3GB above the H200 NVL and 48GB above the RTX PRO 6000 Blackwell. At 450W, MAMF reached 580 TFLOPS in BF16, 1,120 in FP8, and 2,228 in block-scaled FP4, 36 to 38 percent above a 600W RTX PRO 6000 at every precision and behind the H200 NVL in BF16 and FP8. On AMDGPU 31.60, ROCm 10.1.0, and vLLM 0.32.0, GPT-OSS-120B reached 5,057 output tokens per second at 128 streams on the chat workload, 65 percent ahead of the RTX PRO 6000 and 50 percent ahead of the H200 NVL. Dell documents eight MI350Ps at 600W in the PowerEdge XE7745, and a follow-up