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On May 16, Wolfe Research announced its tactical decision to move off Nividia (NASDAQ: NVDA ) and onto Advanced Micro Devices (NASDAQ: AMD ) stock to benefit from AI. No one is more pro-Nvidia than I am. I’ve been in its corner for several years, calling CEO and co-founder Jensen Huang “America’s Most Influential CEO,” in September 2021 .

Huang jumped on AI long before it was fashionable to do so. A decade later, Nvidia shareholders are rightly benefiting from this prescient long-term bet. However, AMD CEO Lisa Su is also one of America’s best chief executives.



If you can own both stocks, you probably should. They’re both excellent long-term buys. Returning to Wolfe’s decision to move Nvidia off its Wolfe Alpha List — the firm’s version of the Goldman Sachs Conviction List — and replace it with AMD.

“Our views on NVDA and AMD haven’t changed, but the relative move in stock prices YTD causes us to make a tactical shift in priority, moving AMD to the Wolfe Alpha List, replacing NVDA, which is up ~90% YTD and ~100% since it was added to the list in November 2023,” Investing.com reported Wolfe Research’s note to clients. It makes total sense.

Here’s why. AI and AMD Stock The company launched its MI300 AI GPUs in December. Because of their early success, AMD’s data center revenue increased by 80% year-over-year in Q1 2024 to $2.

3 billion. Sequentially, its data center revenue grew by $60 million (2%) over Q4 2023. The AMD Instinct accelerators are s.

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