Advanced Micro Devices, Inc (NASDAQ:AMD) stock has been on a roll since it launched its artificial chip MI300X, rivaling Nvidia Corp (NASDAQ: NVDA).
The Nvidia rival has gained close to 15% in the last five days and over 116% year-to-date.
AMD expects the market for data center AI chips to reach $400 billion by 2027.
Also, quite interestingly, AMD is focusing on data centers and the telecom sector in India for growth opportunities, in stark contrast to Nvidia, which focuses on China, the U.S., Japan, and Vietnam.
In November, Citi analyst Christopher Danely highlighted that AMD gained market share over Intel Corp (NASDAQ:INTC) and Arm Holdings Plc (NASDAQ: ARM) in the Microprocessor Unit (MPU) market.
KeyBanc analyst John Vinh expressed conviction in the MI300X ramp in 2024 and noted that the upside potential to the $2 billion outlook is likely. Previously, AMD CEO Lisa Su shared that winning a supply of over $2 billion worth of AI chips.
In 2024, AMD anticipates that the AI PC launches planned for 2025 will initiate a new refresh cycle. The company actively collaborated with Microsoft Corp (NASDAQ:MSFT) to optimize AI use cases.
Price Action: AMD shares traded higher by 4.05% at $139.85 on the last check Tuesday.
