Advanced Micro Devices are catching up .

When it comes to investing in AI stocks, Nvidia is the top player, but it may seem counterproductive to overlook Advanced Micro Devices $Advanced Micro Devices (AMD.US)$ . AMD has a knack for catching up with competitors and is becoming a significant player in the AI chip market.

Its latest move, acquiring Silo AI for USD 665 million, builds on its acquisition of Nod.ai and boosts their MI300 series of accelerators, enhancing its chances of keeping pace with Nvidia and others. Additionally, AMD's data-center segment grew its revenue by 80% year-over-year in Q1 2024 and has the potential to become a dominant part of the company, similar to Nvidia's data-center segment.