This is not a vector extension (like Intel AVX/AVX-512 or Arm SVE), but a matrix extension (like Intel AMX or Arm SME or the "tensor" operations of NVIDIA GPUs).

Some of the latest generations of Intel server CPUs with P-cores already have the AMX matrix extension, which can be used to implement fast AI inference.

AMD has not implemented AMX yet, and probably they will not implement it, because this new "AI Compute Extension", which has been defined by Intel and AMD together, is an alternative/extension to AMX (ACE inherits some parts of AMX, but not all). It appears that the fate of Intel AMX will be the same as that of the original Apple undocumented AMX extension, which was replaced by the SME extension defined together with the Arm company (like Intel AMX will be replaced by ACE defined together with AMD).

Matrix extensions are more efficient for AI inference than vector extensions, because they reduce the ratio between memory accesses and computation operations.

However, I would like to have not only a matrix extension for AI, but also a matrix extension for all numeric formats until FP64, like in Arm/Apple SME or in the NVIDIA and AMD "datacenter" GPUs.

ACE is a proliferation of AMX -- palette 2.

So AMD is actually going to implement the basics of AMX -- whether they also do palette 1 is up to them.