From Nasdaq:

Shares of Advanced Micro Devices (NASDAQ: AMD) surged last month due to the launch of the new Instinct MI300 accelerators for advanced AI models, as well as broader market gains. AMD stock climbed 22% in December.

The new MI300X accelerator offers industry-leading memory bandwidth for generative AI and top performance for training and inference. AMD projected $2 billion revenue in 2024 from the new line of chips, also showcasing prominent customers like Microsoft, Meta Platforms, OpenAI, and Oracle.

With its strong growth in 2023, AMD is expected to experience high demand for its AI chips and continue to be a popular choice for tech investors. There’s optimism about the company’s future performance and its investment potential.

The Motley Fool just released the 10 best stocks to buy now and Advanced Micro Devices wasn’t on the list. The report suggests that the stock could produce massive returns, making it an interesting option for investors looking to build or expand their portfolio.

Randi Zuckerberg, former director of market development and spokeswoman for Facebook, and sister to Meta Platforms CEO Mark Zuckerberg, is on the board of The Motley Fool. The Motley Fool has positions in and recommends Advanced Micro Devices, Meta Platforms, Microsoft, Nvidia, and Oracle.



Read more: Why Advanced Micro Devices Stock Jumped 22% in December