With shares up a whopping 3,300% over the last five years, Nvidia (NASDAQ: NVDA) is winning the artificial intelligence (AI) race by a landslide. For comparison, rival Advanced Micro Devices (NASDAQ: AMD) is only up by just under 500% in the same time frame.

As Nvidia soars to higher and higher valuations, investors may want to look for more under-the-radar ways to bet on the long-term AI hardware opportunity. Could AMD fit the bill? Let's dig deeper into the potential advantages this smaller chipmaker could have over the market leader.

Since it acquired ATI technologies in 2006, AMD has been locked in a battle with Nvidia in the market for graphics processing units (GPUs), a type of computer chip that excels at performing complex tasks like rendering video game visuals, cryptocurrency mining, and training AI algorithms. Historically, Nvidia has dominated the high end of the opportunity, forcing AMD to compete based on pricing and value.

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Source Fool.com