AMD - Advanced Micro Devices

Signed a major deal with Anthropic for 2 gigawatts of MI450 GPUs and a $5 billion equity investment, providing long-term revenue and market share growth.

500 shares held; AI story with CPUs, potential to replace Netflix in FAANG

AMD is the host's largest position at 38% of portfolio. He is very bullish on its AI GPU prospects and believes it will benefit from the inference boom.

Steven argues AMD is overvalued at 74 times forward PE with similar growth rates to Nvidia, suggesting the stock needs to come down or Nvidia needs to go up.

Similar revenue share agreement with government; video sees it as distortion of free markets.

Close to all-time highs, gap fill at $581–$582 intrigues.

Noted as a competitor to Nvidia in AI accelerators; included in SMH ETF to provide diversification within the semiconductor layer.

AMD is a competitor to Nvidia in AI accelerators. AI demand is massive, so the market needs alternatives, but direct stock picking is not recommended.

Strong AI infrastructure play benefiting from continued buildout; market giving premium as bet on AI infrastructure continuing

Growth story in AI chips yet to be fully told, beneficiary of AI infrastructure spend