10 Best Artificial Intelligence (AI) Stocks To Buy According to Financial Media

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

Number of Hedge Fund Holders: 124

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a semiconductor company based in Santa Clara, California. The company is the world’s second-largest producer of x86 CPUs and discrete GPUs. Its new MI300 Instinct chips are also offering significant competition to other semiconductor players in the market, such as NVIDIA Corporation (NASDAQ NVDA), and can even be said to have an advantage over its competitors, seeing as the MI300 chips are going for a fraction of the price of the H100 GPUs produced by NVDA, despite their performance being almost at par with each other. According to Motley Fool, the lower pricing of Advanced Micro Devices, Inc.’s (NASDAQ:AMD) chips are making this company a compelling alternative for data center customers, highlighting the fact that Advanced Micro Devices, Inc. (NASDAQ:AMD) may be a good AI stock pick for investors considering the high demand for its more reasonably priced chips in the market.

A total of 124 hedge funds were long Advanced Micro Devices, Inc. (NASDAQ:AMD) in the first quarter, with a total stake value of $15.6 billion.