Artificial intelligence (AI) has dramatically altered the value propositions of both Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD).

Nvidia's AI accelerators have redefined the company and the overall semiconductor industry as customers scramble to capitalize on the power of AI. In contrast, AMD has become known for catching up to its competitors technically, and it is again attempting to do so in the AI accelerator market.

The future could potentially bode well for both companies. Grand View Research forecasts a compound annual growth rate (CAGR) for the global AI chip industry of 29% through 2030. Such growth rates mean a rising tide should lift all major industry players.

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Source Fool.com