2023 has been a fun year for companies in the realm of artificial intelligence (AI). As a leading maker of current and future AI-engine microchips, Advanced Micro Devices (NASDAQ: AMD) has seen its fair share of market interest.

The stock has gained 59% year-to-date. Even so, AMD's valuation sits at a modest 7.6 times trailing sales and 25 times forward earnings projections.

Is the chip designer running out of steam or does it still make sense to buy AMD stock today?

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Source Fool.com