Jo Bhakdi on AMD

AMD is included in the host's long-term AI buying opportunity. He nevertheless prefers Nvidia because AMD's valuation is less compelling and it still has more to prove.

The host considers AMD's sharp decline an unjustified spillover from Intel's problems. He also questions selling semiconductor suppliers while hyperscalers continue investing heavily, without giving AMD a distinct forward price forecast.

The host argues AMD's decline in sympathy with Intel is irrational because Intel's problem is company-specific. He treats the episode as evidence of indiscriminate selling rather than issuing a separate AMD return forecast.

The host is explicitly bullish on AMD as an investment and expects CPU scarcity to benefit the company. He favors semiconductor diversification over trying to identify a single winner.

A viewer asks for AMD to be added to the host's research list. The host says a good analysis has not yet been completed and offers no directional investment view.

The host tentatively identifies AMD as another potentially attractive AI investment. He explicitly says he is not an AMD specialist and provides no substantive company-specific forecast.

AMD is highlighted as the standout performer in a strong day for semiconductors, though no forward-looking price thesis is offered.

AMD is mentioned as a chip competitor to Nvidia that no one, including Tesla, can currently out-compete in its core niche; the speaker does not offer a directional prediction on AMD stock.

AMD is recognized as a strong competitor that has successfully challenged Intel in CPUs, but is considered less attractive than Intel as a potential Tesla acquisition target. AMD's relative strength compared to Intel makes it a less ideal acquisition candidate.

AMD benefits from the massive AI infrastructure buildout alongside NVIDIA. The speaker includes AMD as part of the justified capex spending in AI chips that will generate substantial returns.

AMD is a smaller AI infrastructure play with chips that are sometimes cheaper and better performance per dollar, but struggles catching up with CUDA. Only interesting because so much smaller than Nvidia at 400B vs 4T, giving it easier growth runway.

AMD is underestimated and making good progress on inference; CUDA's advantage is shrinking because AI makes software translation easier.

AMD is part of the real AI infrastructure buildout, going up 29% after OpenAI 10% equity deal with commitment for 6GW of chips.

AMD's OpenAI deal for 6GW of MI400 represents 600% revenue boost vs 2024's $25B total; OpenAI takes 10% equity which went up 29% on announcement.