Advanced Micro Devices (NASDAQ: AMD) has been a company to watch this year as its shares have soared 80% since Jan. 1. The tech giant has benefited from a boom in artificial intelligence (AI), which has highlighted how crucial chipmakers are to the industry's future. AMD has been one of the biggest names in graphics processing units (GPUs), second only to Nvidia, in recent years. These chips are necessary in developing AI models, suggesting that AMD could have a lucrative role in the high-growth sector over the long term.

In addition to AI, AMD is well positioned to profit significantly as the PC market recovers. The industry has been hit hard by macroeconomic headwinds over the last two years but is showing signs of improvement. AMD could see a spike in revenue in 2024 as PC and chip sales soar. As a result, now is an excellent time to learn more about this company and potentially invest in its stock.

So, here are three things about AMD that smart investors know.

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Source Fool.com