This AI Stock Is Cheaper Than AMD and Crushing It in Returns

Advanced Micro Devices (AMD) has emerged as the best-performing stock in the S&P 500 Index ($SPX) over the past month. Shares of the chipmaker have surged more than 56%, reaching new record highs. The rally comes as investor confidence in AMD’s role within the artificial intelligence (AI) market continues to strengthen. Moreover, the company’s recent partnerships and strategic deals have further driven optimism about its ability to compete with industry leaders and capture more market share.

AMD stock recently received a boost when International Business Machines (IBM) announced that it could run a quantum computing error correction algorithm on AMD chips. This news followed a multibillion-dollar partnership with OpenAI. The stock also received a significant boost after the company announced a multibillion-dollar partnership with OpenAI. This deal will reshape AMD’s product roadmap and accelerate its presence in the AI hardware space.