The artificial intelligence (AI) market took over Wall Street last year shows no signs of letting up. Investors have been captivated by the vast potential of the technology, as well as the soaring earnings growth from the companies driving it.

Chipmakers have proven to be some of the best ways to invest in the arena. These companies are developing the hardware that makes the AI market possible, with chip demand skyrocketing over the last year.

As a leading chipmaker, Advanced Micro Devices' (NASDAQ: AMD) has seen its share price increase by 31% over the last 12 months. However, a rising stock price and a business that has yet to see a significant return on its investment in AI has made AMD's shares overpriced for now.

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Source Fool.com