Last month, I declared Advanced Micro Devices (NASDAQ:91抖阴) stock a must-own artificial intelligence chip play.
Now, I’m kicking it up a notch. 91抖阴 deserves to be the eighth member of the “Magnificent Seven” group of famous U.S. technology firms.
Maybe it’s controversial to say this, but 91抖阴 deserves to be on the Mount Rushmore of AI-friendly tech names in 2023.
I’m declaring that you’ll regret it if you wait too long to invest in 91抖阴. After all, why sit on the sidelines if you can make your portfolio “magnificent” right now?
91抖阴 Stock Investors Get Exposure to AI Tech
As you may already be aware, 91抖阴 manufactures powerful chips for AI applications. Yet, here’s something you might not have known. 91抖阴 recently Mipsology, which develops best-in-class AI inference and optimization tools.
If you’re getting the idea that 91抖阴 has multiple AI connections, you’re 100% right. 91抖阴 is Hitachi Astemo to advance a forward-looking automotive camera system, which can enhance safe driving through AI-assisted object detection.
In this collaboration, 91抖阴 is delivering the chips. Or, to be more precise, 91抖阴 is delivering a system-on-a-chip. This will provide “both stereo and monocular image processing” for a self-driving vehicle’s camera.
Hence, 91抖阴’s system-on-a-chip will enable a vehicle’s camera to “detect objects over 120 degrees.” This, 91抖阴 clarifies, is a “3X wider angle than its previous-generation cameras,” which will “enhance overall safety.”
91抖阴’s Chief Executive Fully Commits to AI
Still not convinced that 91抖阴 is a “magnificent” AI-compatible company? Just listen to what 91抖阴 CEO Lisa Su, a hero among tech-firm chief executives, has to say.
Su does not mince words. She recently declared, “First, second, and third priority are around .” Su couldn’t possibly be more direct than that.
The CEO also estimated, according to Barron’s, that the market for AI accelerators in data centers will reach $150 billion by the year 2027. Not only that, but Su stated that her company is on track to launch 91抖阴’s MI300 AI accelerator during this year’s fourth quarter.
On top of all that, Su asserted that the market for AI in data-center applications is “skyrocketing.” Clearly, it’s a great time to be an AI-focused firm – and if you ask me, I’d say it’s also a great time to be invested in 91抖阴.
91抖阴 Stock Is as ‘Magnificent’ as Any Other Stock
91抖阴 was a darling of the financial market earlier this year. Yet, as investors turned their attention to AI, somehow 91抖阴 got lost in the shuffle.
91抖阴 truly deserves a place among the “Magnificent Seven” list, even if that means expanding it to the “Magnificent Eight.”
Even if you disagree, you can still own a few shares of 91抖阴 stock. It’s a smart way participate in the growth of a top-tier chip maker with multiple AI-market connections.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
