We recently published a list of 10 AI Stocks Making Waves This Week. In this article, we are going to take a look at where Advanced Micro Devices, Inc. (NASDAQ:AMD) stands against other AI stocks that are making waves this week.

Advanced Micro Devices, Inc. (NASDAQ:AMD) develops and sells semiconductors, processors, and GPUs for data centers, gaming, AI, and embedded applications. On May 20, the company announced a strategic collaboration with Red Hat, the world’s leading provider of open source solutions. The collaboration aims to better support AI workloads and help companies run AI and virtual machines (VMs) faster, cheaper, and more efficiently.Red Hat and Advanced Micro Devices, Inc. (AMD) Strengthen Strategic Collaboration to Advance AI Solutions

A close up of a complex looking PCB board with several intergrated semiconductor parts.

Red Hat’s industry-leading open source solutions, together with the comprehensive portfolio of AMD’s high-performance computing architectures, will help organizations with the capacity and resources needed to meet workload demand and diversity rising due to artificial intelligence. The crux of the partnership is to enable businesses to manage resource-heavy AI tasks and existing virtual infrastructure without requiring major upgrades.

“By combining Red Hat’s industry-leading open source platforms with world-class AMD Instinct GPUs and AMD EPYC CPUs, we’re delivering the performance and efficiency customers demand to accelerate AI, virtualization and hybrid-cloud innovation.”

Overall, AMD ranks 4th on our list of AI stocks that are making waves this week. While we acknowledge the potential of AMD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMD and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.

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