AMD's Shopping Spree Continues. Is the AI Stock a Buy?
AMD (NASDAQ: AMD) might be the biggest sleeper stock in the artificial intelligence (AI) chip business right now.The stock is down nearly 50% from its peak last year. It seems investors got ahead of themselves in betting on AMD to break through in AI chips and challenge Nvidia.However, while the stock has tumbled, AMD's data center business is gaining traction. Revenue in the AI-focused segment jumped 57% in its first quarter to $3.7 billion, driven by growth in its EPYC central processing unit (CPU) and Instinct graphics processing unit (GPU) franchises.Continue reading
AMD (NASDAQ: AMD) might be the biggest sleeper stock in the artificial intelligence (AI) chip business right now.
The stock is down nearly 50% from its peak last year. It seems investors got ahead of themselves in betting on AMD to break through in AI chips and challenge Nvidia.
However, while the stock has tumbled, AMD's data center business is gaining traction. Revenue in the AI-focused segment jumped 57% in its first quarter to $3.7 billion, driven by growth in its EPYC central processing unit (CPU) and Instinct graphics processing unit (GPU) franchises.
