Chip stocks soared over the last year, thanks to increased interest in artificial intelligence (AI). Market leader Nvidia's stock has climbed 234% since last January, as its graphics processing units (GPUs) became the go-to for AI developers worldwide.

However, competition is expected to heat up in the AI chip sector this year, which could present more attractive ways to invest in the budding market. Advanced Micro Devices (NASDAQ: AMD) is a compelling option, as it's gearing up to begin shipping its most powerful GPU ever.

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Source Fool.com