Advanced Micro Devices, Inc. (NASDAQ: AMD) is highlighted as one of the Hot AI Stocks to Keep on Your Radar. TD Cowen recently reiterated the stock as “Buy” and raised its price target to $270 per share. The firm sees potential upside from AMD’s partnership with OpenAI.

A recent deal between AMD and OpenAI will allow the latter to purchase billions of dollars’ worth of equipment for AI capabilities. OpenAI may also take a 10% stake in AMD. Analysts believe this partnership validates AMD’s participation in the AI compute TAM alongside NVIDIA.

AMD develops and sells semiconductors, processors, and GPUs for various applications. While acknowledging its investment potential, some experts believe other AI stocks offer greater upside with less downside risk. For insights on undervalued AI stocks, check out a free report on the best short-term AI stock.

For more on trending AI stocks and those in the spotlight for investors, explore Insider Monkey’s articles. Disclosure: None.

Read more at Yahoo Finance: AMD Stock Target Lifted to $270 by TD Cowen After Landmark OpenAI Deal