$AMD is the second growth curve in the AI compute industry that is well worth watching.
If AI demand continues to expand, the market naturally won’t only focus on a single chip company forever.
GPU, AI accelerators, and data center CPUs may all continue to receive capital expenditure support.

So AMD’s core logic isn’t: “Can it beat NVDA.”
Instead, it is: As the AI cake keeps getting bigger, how much of it can it take.