Better Artificial Intelligence Stock: AMD vs. Nvidia
Artificial intelligence (AI) has been a hot sector to invest in, helping the stock market reach new highs in 2024. Two of the biggest beneficiaries from the rise of AI are semiconductor giants Advanced Micro Devices (NASDAQ: AMD) and its chief rival Nvidia (NASDAQ: NVDA).
Both sell graphics processing units (GPUs), the hardware used in data centers to enable artificial intelligence. AI systems must sift through mountains of data, and the GPU is the component that makes this data-intensive task possible.
GPU sales propelled AMD and Nvidia revenue to record highs. The pair is positioned for more growth as tech companies construct data centers to house AI systems. For instance, Facebook parent Meta Platforms is building a data center the size of a small city.
Source Fool.com
Advanced Micro Devices Inc. Stock
With 110 Buy predictions and 3 Sell predictions Advanced Micro Devices Inc. is one of the favorites of our community.
As a result the target price of 239 € shows a positive potential of 21.7% compared to the current price of 196.38 € for Advanced Micro Devices Inc..
