AMD (Advanced Micro Devices) Stock News

As a leading chipmaker, Advanced Micro Devices has a critical role in AI. Meanwhile, Alphabet's diverse business model gives it multiple use cases for AI.

Demand for AI voice assistance is booming, and SoundHound AI can help investors profit. AMD is a great stock to profit from the growing demand for AI chips in data centers.

CNBC's Jim Cramer on Thursday told investors he hopes Wall Street will abandon a larger-than-life view of Nvidia now that the company's long-awaited earnings report is in the rearview mirror. Perhaps investors can now turn their attention to other worthwhile stocks that "have been lost in the Nvidia shuffle," he said.

Advanced Micro Devices, Inc.'s quarterly earnings were quite good, but the stock has not shown a massive upswing. The most important metric for AMD will be the growth trajectory within its Data Center business. AMD's management has announced an 11% increase in the 2024 estimate of Data Center GPU sales, which shows a further increase in the growth momentum.

Investors have rallied behind chip stocks amid advancements in artificial intelligence (AI).

Recovery of the PC market and a growing share of the client processor space are driving growth. AMD's server processor business is also picking up as is growth of its data center segment.

Alphabet has been investing in artificial intelligence with the launch of Gemini and enhancing its existing products and services. It's far from a pure-play artificial intelligence investment, as it still relies heavily on ad sales, which could prove to be volatile.

After years of stagnation, this server company's alliance with Nvidia has supercharged growth. AI chips have become increasingly important to this semiconductor stock.