35 Chip Stocks Powering AI Boom

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

Number of Hedge Fund Holders: 108

Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor manufacturer. AMD CEO Lisa Su spoke during a Goldman Sachs conference recently, noting that the AI boom was a computing super cycle and there was no one player or architecture that would take over. The CEO stressed that she expected the adoption of AI PCs to pick up in 2025, noting that some investors mistakenly believed the AI PC demand would explode in 2024. She noted that this was the beginning of the AI supercycle and next year AI PCs would be part of the commercial refresh cycle in the tech space.

Advanced Micro Devices, Inc. (NASDAQ:AMD) has earned bullish calls from Wall Street. Wedbush has an Outperform rating on the stock with a price target of $200. In a recent investor note, the advisory underlined that the ZT acquisition was likely both strategic and opportunistic for AMD as the chipmaker was able to purchase ZT at a discount likely in part due to changing conditions in the original design manufacturers market and particularly Foxconn’s increased presence within the Nvidia server supply chain.