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Nvidia (NVDA) still stands strong as the dominant force in AI computing. However, Advanced Micro Devices (AMD) is building something that could provide another option to the industry's biggest AI companies. The idea of an “escape hatch” from Nvidia doesn't necessarily imply AMD needs to replace Nvidia. But if it can become a credible second source of AI computing for companies building enormous AI infrastructure, the opportunity for AMD stock could be much larger than simply selling more chips.
AMD stock has climbed 125.5% year-to-date (YTD), outperforming both the broader market and the tech-heavy Nasdaq Composite ($NASX). Yet, Wall Street expects AMD stock to more than double from here. Let's examine the ways in which AMD plans to do it.
