Prediction: AMD's Stock Could Soar on Nov. 4

Nvidia (NASDAQ: NVDA) has widely been regarded as the best artificial intelligence investment opportunity in the AI arms race. However, recent events have caused Advanced Micro Devices (NASDAQ: AMD) to gain traction in this area. The hype around AMD's business started when it announced a deal with OpenAI to provide 6 gigawatts of computing power through a deal where OpenAI invested in AMD as the computing power is delivered. While this deal is important for AMD, what it really signaled was that a leading generative AI company plans on using AMD's hardware. That's a big deal, as AMD's technology has always been seen as a downgrade from Nvidia. This could be setting the stock up for another huge movement on Nov. 4, when it reports Q3 earnings, as AMD may unveil a huge order backlog that popped up following its OpenAI deal.The burning question remains: Should you buy AMD stock right now? Or wait until after Nov. 4?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool