10 AI Stocks On Wall Street’s Radar

5. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 107

Advanced Micro Devices, Inc. (NASDAQ:AMD) develops semiconductors, providing processors and graphics technologies for gaming, data centers, and AI-driven high-performance computing. On March 13, JPMorgan reaffirmed its “Neutral” rating on the stock with a $130 price target. The firm issued the rating after its recent meeting with CEO Lisa Su.

“Overall, the key message is that the team’s strong and diversified data center/enterprise/client compute portfolio will drive strong growth in CY25 – combination of share gains, improving demand/cyclical trends, and growing momentum for its next-gen AI compute solutions.”

The company anticipates “strong double-digit growth” driven by increasing market share in server CPUs, particularly among cloud providers and hyperscalers, as well as “improving server demand trends.” It also expects to add more share in desktop and notebook CPUs, and anticipates growth in gaming and embedded businesses as well as its AI GPU segment. AMD is also preparing to launch its next-gen MI350 accelerator, with notable early momentum. Sur believes the company will “transition existing customers” like Microsoft, Meta, and Oracle, as well as new major cloud providers, to the MI350 platform by mid-year.