Could AMD Dethrone Nvidia?
If the past few years have taught investors anything, it's that you shouldn't bet against Nvidia (NASDAQ: NVDA). Still, Advanced Micro Devices (NASDAQ: AMD) is creating quite a buzz with a string of wins and advances that pose a direct challenge to the dominance of its rival Nvidia. Can AMD actually dethrone Nvidia as king of AI chips?
There are a lot of good things happening with AMD. The company is reportedly finalizing a deal with Anthropic to supply 2 gigawatts of AI computing capacity. AMD may also take an equity stake in Anthropic worth up to $5 billion.
Microsoft's Azure has also committed to using AMD's new Helios rack-scale platform. This pairs well with AMD's existing partnerships with OpenAI and Meta Platforms. Lastly, the autonomous driving company Turing is migrating 10% of its AI training workloads from Nvidia to AMD.
Source Fool.com
Advanced Micro Devices Inc. Stock
The stock is one of the favorites of our community with 109 Buy predictions and 3 Sell predictions.
With a target price of 521 € there is a slightly positive potential of 18.96% for Advanced Micro Devices Inc. compared to the current price of 437.95 €.
