Better Artificial Intelligence (AI) Stock: Nvidia vs. AMD
The semiconductor industry has received a big lift from the growing adoption of artificial intelligence (AI) technology in multiple industries ranging from data centers to smartphones to personal computers, which explains why the PHLX Semiconductor Sector index has clocked healthy gains of 20% so far in 2024.
Nvidia (NASDAQ: NVDA) has been one of the biggest beneficiaries of the fast-growing demand for AI chips. The stock has shot up 135% so far in 2024 as of this writing, and that's justified, as Nvidia is the leading player in the market for AI graphics processing units (GPUs), with an estimated market share of 94% at the end of 2023.
This terrific market share explains why Nvidia's rival Advanced Micro Devices (NASDAQ: AMD) hasn't received enough love on Wall Street. Shares of AMD are up just 6% this year, and that's not surprising, as its revenue and earnings growth have been nowhere near Nvidia's. Does this mean Nvidia will remain a better AI stock than AMD, or will the latter's gradually improving AI credentials spark a rally in its stock price? Let's find out.
Source Fool.com
Advanced Micro Devices Inc. Aktie
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