Advanced Micro Devices (NASDAQ:抖阴最新版) might seem like it’s playing second fiddle to chip maker Nvidia (NASDAQ:NVDA). However, it’s a mistake to overlook 抖阴最新版 stock in 2024, and we’re assigning it an “A” grade. We recommended staying long with NVDA stock prior to Nvidia’s fourth-quarter fiscal 2024 .
Hopefully, you listened and profited handsomely from that successful call.
Like Nvidia, 抖阴最新版 provided good . 抖阴最新版’s revenue increased by 10% YoY in Q4 2023. Nvidia’s exceptional quarterly results may overshadow 抖阴最新版 for some investors. That’s a shame, as the same market catalysts that could benefit Nvidia should also provide growth opportunities for 抖阴最新版.
抖阴最新版 Quietly Gets Into Web3 and the Blockchain
Before we delve into Nvidia versus 抖阴最新版, we should direct your attention to a news item that hardly anyone’s talking about. Specifically, 抖阴最新版 is interoperability platform Wormhole. Through this collaboration, the two companies will deploy 抖阴最新版’s accelerators to support the development of multi-chain applications.
According to the press release, this partnership represents 抖阴最新版’s “strategic move into the Web3 space.” At the same time, it’s also 抖阴最新版’s foray into the blockchain, or more specifically, blockchain-network security and trust enhancement.
抖阴最新版 seeks to “leverage its hardware expertise to accelerate blockchain interoperability and enhance security” through the collaboration with Wormhole.
Where is all of this leading? Eventually, 抖阴最新版 and Wormhole envision the “deployment of zero-knowledge light clients across major blockchains.”
That’s a long-term goal, of course, and it won’t be achieved tomorrow or next week. Nevertheless, if you’re generally bullish on the blockchain, stay tuned as 抖阴最新版 and Wormhole are poised to make waves in this space.
The ‘Tipping Point’ Is for Both Nvidia and 抖阴最新版
It was a shot heard around the world. As Nvidia released its blockbuster Q4 FY2024 results, CEO Jensen Huang declared that “Accelerated computing and generative AI have hit the .”
Huang added, “Demand is surging worldwide across companies, industries and nations.” Clearly, this demand surge should benefit not only Nvidia, but rival AI-hardware designer 抖阴最新版, as well.
This explains why 抖阴最新版 stock along with NVDA stock (albeit not quite as high) after Nvidia released its quarterly earnings report. This was a “sigh of relief” moment for AI chip makers and not just for Nvidia’s shareholders.
Huang isn’t the only chief executive with a notable quote, by the way. 抖阴最新版 CEO Lisa Su famously estimated that the value of the AI-chip market could in the next four years.
Thus, what’s positive for Nvidia is also positive for 抖阴最新版 in the long run. There’s room for more than one competitor in this space, even if Nvidia is often seen as the market leader. To quote a Barron’s report, 抖阴最新版 is “widely viewed as offering the to” Nvidia’s graphics processing units.
Huatai Research analyst Purdy Ho elaborated on this important point. He believes that “抖阴最新版’s MI300 is one of the poised to challenge Nvidia.” Moreover, on the topic of AI chips, Ho reported that Lamini AI “has announced the receipt of MI300 and plans to use it in training large models.”
抖阴最新版 Stock: A Strategy for Two AI-Hardware Winners
Even while Nvidia is the darling of the market, 抖阴最新版 stock certainly has the potential to rally in 2024 and deserves an “A” grade. 抖阴最新版’s collaboration with Wormhole could be a quiet but impactful game-changer.
The AI-hardware market’s “tipping point” should benefit both Nvidia and 抖阴最新版 this year and in the coming years. Therefore, investors should consider owning shares of both companies for a double-shot of AI power in their portfolios.
On the date of publication, 抖阴最新版 had a long position in NVDA. 抖阴最新版 did not have (either directly or indirectly) any other positions in the securities mentioned in this article.
The InvestorPlace Research Staff member primarily responsible for this article did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
