Advanced Micro Devices, Inc. (NASDAQ:AMD) has hit a gold mine on its push for growth opportunities in gaming, content creation, and AI development. On May 20, the semiconductor giant unveiled Radeon RX 9060 XT and Radeon AI PRO R9700 high-performance computing graphics cards engineered to address the most demanding workloads.
Radeon RX 9060 XT and Radeon AI PRO R9700 are tailored to enhance workstations and gaming activities as they incorporate RDNA 4 AI capabilities. On the other hand, the Ryzen Threadripper 9000 Series is designed to enable new standards for high-end desktops and professional workstations. The latest graphics cards underscore AMD’s focus on empowering creators, gamers, and professionals with unmatched performance and efficiency.
The unveiling of the new graphics cards comes on the heels of AMD revealing an investment worth $10 billion with Saudi Arabia AI Company Humain. AMD is poised to provide GPUs that Humain can use in its AI applications and CPUs needed for GPU-laden AI servers. The Saudi Arabian deal underscores the company’s edge in competing against powerful offerings from Nvidia.
AMD’s growing competitive edge in providing high-performance GPUs has attracted a Buy rating from Stifel analysts with a $132 price target. Stifel has echoed the company’s push to sell ZT Systems’ manufacturing operations as it moves to focus and expand its technology in the AI infrastructure sector.
While we acknowledge the potential of Advanced Micro Devices, Inc. (NASDAQ:AMD) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMD and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None.
