2023 was the year of artificial intelligence (AI) investing, and perhaps the biggest winners were the "Magnificent Seven" stocks, a moniker that includes mega-cap behemoths Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta Platforms. One of the biggest standouts among this cohort was semiconductor company Nvidia, which saw its market cap balloon to more than $1 trillion, fueled by unprecedented demand for chips used to train generative AI models.

While each of the companies above has a multitude of ways to benefit from AI tailwinds, savvy investors should know that myriad opportunities exist in the capital markets. One such company that looks set up to dominate in 2024 is Nvidia's top rival, Advanced Micro Devices (NASDAQ: AMD).

While the company's growth in 2023 paled in comparison to Nvidia's, AMD may have just made its best countermove yet, setting up 2024 to be a milestone year. Let's dig into what AMD has in the cards, and why scooping up shares now could be a lucrative opportunity.

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Source Fool.com