10 Buzzing AI Stocks According to Goldman Sachs

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

Number of Hedge Fund Holders: 108

Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor manufacturer. The CEO of the firm, Lisa Su, spoke at the Goldman Sachs 2024 Communacopia and Technology Conference earlier this month, stressing that the market was at the start of a multiyear AI PC cycle. According to the CEO, AI was the most significant innovation that had come to the PC market in the last 10-plus years. She noted that AI tech in PCs could be used as productivity tools, giving the example of the work AMD did with the AI PCs of tech giant Microsoft in this regard. Looking ahead, she predicted that AI PCs would be a driver of the commercial refresh cycle for the company next year.

Lisa Su also commented on the recent Advanced Micro Devices, Inc. (NASDAQ:AMD) purchase of ZT Systems, noting that combining the high-performance Instinct AI accelerator, EPYC CPU, and networking product portfolios of AMD with the industry-leading data center systems expertise of ZT Systems would enable AMD to deliver end-to-end data center AI infrastructure at scale within the ecosystem of OEM and ODM partners.