6 Billion Reasons To Buy This Artificial Intelligence (AI) Semiconductor Stock Hand Over Fist (Hint: It's Not Nvidia)
Advanced Micro Devices just increased its share buyback program by $6 billion.
When it comes to the semiconductor industry, chances are the top name that comes to mind is Nvidia. For the last two years, investors have been consistently reminded of just how dominant Nvidia's presence is in the world of high-performance chipsets, known as graphics processing units (GPUs).
While Advanced Micro Devices (NASDAQ: AMD) has started to build respectable momentum in the GPU world, the company largely remains in Nvidia's shadow. Unsurprisingly, AMD stock hasn't experienced anywhere near the same level of enthusiasm compared to Nvidia during the artificial intelligence (AI) revolution.
That might change sooner rather than later, however. Let's explore an important announcement investors may have missed from AMD, and assess why now could be a great opportunity to buy the stock.
