Blackrock’s 30 Most Important AI Stocks

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

Number of Hedge Fund Holders: 107

Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor manufacturer. There are multiple compelling reasons that make this company a promising investment opportunity. Firstly, as per the reports of the third quarter of 2024, data center segment revenue of $3.5 billion was up 122% year-over-year and 25% sequentially, primarily driven by the strong ramp of AMD Instinct GPU shipments and growth in AMD EPYC CPU sales. Additionally, client segment revenue was $1.9 billion, up 29% year-over-year and 26% sequentially, primarily driven by strong demand for Zen 5 AMD Ryzen processors. Secondly, the company has also launched the latest high-performance computing solutions defining the AI computing era, including 5th Gen AMD EPYC server CPUs, AMD Instinct MI325X accelerators, AMD Pensando Salina DPUs, and AMD Ryzen AI PRO 300 series processors for enterprise AI PCs. Moreover, the company has acquired Silo AI to accelerate the development and deployment of AI Models on AMD hardware.

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