We recently published a list of Top 10 AI Stocks to Watch Right Now. In this article, we are going to take a look at where Advanced Micro Devices (NASDAQ:AMD) stands against other top AI stocks to watch right now.

Nvidia and AMD are seeing increased competition in the artificial intelligence accelerators and networking market.

US stocks climbed on Monday, with chip stocks leading the tech sector higher while investors eyed a possible year-end rally. All three benchmark indexes ended the trading session in the green, with the tech-heavy Nasdaq Composite rising nearly 1%.

Shares of Advanced Micro Devices ( AMD -2.89%) surged to new highs at the beginning of 2024, but mixed business performance across the company's operating segments has weighed on the stock for most of the year. After reaching a high of $227, the shares are down 44% year to date at the time of writing.

Chip stocks surged Monday, led by Broadcom and Advanced Micro Devices following bullish calls from analysts, citing their potential to gain from booming demand for artificial intelligence.

According to DigiTimes, Musk was involved in a deal between xAI and Nvidia — reportedly personally contacting Nvidia Chief Executive Officer Jensen Huang and offering more than $1 billion for a cluster of GB200 GPUs. As it relates to xAI specifically, take a look at what Musk posted on X (formerly Twitter) back in September.

Advanced Micro Devices' current position in AI-GPU market closely mirrors Nvidia’s development path from 1.5 years ago. See why I rate AMD stock a strong buy.

Nvidia and TSM are two AI stocks that are trading at reasonable valuations and remain well-poised to deliver outsized returns.

Advanced Micro Devices is positioned for growth despite recent underperformance. Read why AMD's strong financials and 27% upside make it a compelling buy.

Another reason the AI bubble can burst in 2025 is due to the expected resolution of GPU scarcity that's sent Nvidia's stock into the stratosphere.

Advanced Micro Devices faces risks, but its innovative AI chips could lead the way. Learn why AMD stock presents a great investment with promising potential.

Nvidia (NASDAQ:NVDA) stock found itself in a mini-slump in recent weeks, falling into correction, even as other tech stocks experience their so-called “Nvidia moments.” Though Nvidia could be a relative laggard for a few more weeks or even months as investors digest the recent Fed meeting,