Goldman Sachs’ 35 AI Superstars

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10. 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 various reasons why this company makes an excellent investment. To begin with, the company’s enhanced financial performance is reflected in the fiscal year 2024 quarterly reports. In the third quarter of 2024, the company reported revenue of $6.8 billion, a significant improvement from the $5.8 billion in the second quarter. The gross margin increased to 50% from 49%, showcasing improved operational efficiency. Operating income saw a substantial rise to $724 million compared to $269 million in Q2, and net income nearly tripled to $771 million from $265 million. Moreover, the company has announced new gaming products to expand its leadership in desktop, mobile and handheld gaming and deliver incredible performance for the most demanding games. AMD has revealed new Ryzen 9900X3D and 9950X3D Series desktop processors, offering great performance for desktop gamers, as well as the second-generation handheld gaming PC processor – the Ryzen Z2.

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