30 AI News Investors Should Not Miss

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

Number of Hedge Fund Holders: 108

Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor manufacturer. As the company prepares for the much-hyped Advancing AI event, scheduled for later this month,  Bank of America analysts have released a research note on the firm. In the note, the analysts contend that while AMD has made an impressive start in the AI space, expanding its share further could be challenging given NVIDIA Corporation’s dominant 80-85% market share and strong position in the cloud, alongside competition from cost-optimized custom ASICs from companies like Broadcom and Marvell. However, per the advisory, if Advanced Micro Devices, Inc. (NASDAQ:AMD) can demonstrate a credible path to securing over 10% of the AI market share by 2026, it could add approximately $5 billion to its sales, with potential earnings per share of around $8-$9, compared to the consensus estimate of $7.37.

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