One of the most integral factors in artificial intelligence (AI) is advancements in semiconductor chips. The chip landscape is dense with competition, including Nvidia, with its trillion-dollar market cap, and formidable players like Qualcomm and Taiwan Semiconductor.

Nvidia's top rival, Advanced Micro Devices (NASDAQ: AMD), has also benefited from the tailwinds of the AI hype. However, the company is not generating anywhere near the growth of Nvidia. While I've previously expressed a bullish stance on AMD, my investment primarily revolved around the stock's valuation relative to its peers. 

But just this week, AMD surprised the investment community by announcing its planned acquisition of Nod.ai, an open-source technology platform used for training AI models. I view this deal as a direct move to catch Nvidia and other rivals off guard as the broader AI chess game continues to play out. Let's dig into the specifics and assess if AMD is worth a look for your portfolio. 

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Source Fool.com