Better Artificial Intelligence (AI) Stock: Nvidia vs. AMD
The adoption of artificial intelligence (AI) technologies has skyrocketed since the start of last year. The debut of OpenAI's ChatGPT toward the end of 2022 wowed the tech world and highlighted the vast potential of the emerging technology. As a result, numerous companies have focused their businesses on AI, hoping to win a slice of a pie that Grand View Research forecasts will be worth nearly $2 trillion annually by 2030.
Increased demand for AI services has also increased the need for high-end chips to power them -- chips like the graphics processing units (GPUs) that Nvidia (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) develop. Nvidia's years of dominance in GPUs allowed it to snap up an estimated 90% market share in AI chips, leading to soaring earnings and stock growth. AMD got off to a slower start in the niche, but its share price has still experienced a healthy gain since January 2023.
Both of these chipmakers are compelling investments as the AI market develops and chip demand shows no signs of slowing. But is Nvidia or AMD the better AI stock to buy in July 2024?
Source Fool.com
Advanced Micro Devices Inc. Aktie
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