While Nvidia (NASDAQ: NVDA) has been quite the star in 2023, rival AMD (NASDAQ: AMD) hasn't had nearly the success. While AMD stock is up 60% this year, it's nowhere near Nvidia's 200%-plus performance. Because these two both operate in the  graphics processing unit (GPU) industry with serious artificial intelligence (AI) implications, some investors may wonder why AMD hasn't seen the same returns.

Throw in the fact that AMD's stock is cheaper than Nvidia's, and it may make investors wonder if AMD could be their ticket to incredible returns. So, is AMD a millionaire-maker stock? Or is there a reason for this discrepancy? Let's find out.

While Nvidia focuses solely on GPUs, AMD has a wide product suite. AMD has a wide reach in the computing industry with its embedded processor, CPU, and data center product lines. As a result, AMD becomes a proxy for the computing industry as a whole, not just in a specific GPU sector in which Nvidia has seen incredible growth.

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Source Fool.com