MSFT - Better Artificial Intelligence Stock: AMD vs. Microsoft
2024-07-08 09:15:00 ET
Tech stocks have been on fire over the last year thanks to a rally in the artificial intelligence (AI) market. The Nasdaq Composite index, which includes many of the world's leading tech companies, has popped 21% year to date (outperforming the S&P 500 's 16% rise). The launch of OpenAI's ChatGPT toward the end of 2022 brought renewed interest in AI and illustrated its potential to boost countless industries.
As a result, the companies behind the hardware and software that makes AI possible have enjoyed significant stock gains. Two companies on Wall Street's radar are Advanced Micro Devices (NASDAQ: AMD) and Microsoft (NASDAQ: MSFT) , with one a leader in chip design and the other delivering innovative ways to get AI into the hands of millions of consumers.
These companies could have bright futures in AI, a market projected to hit close to $2 trillion in spending by 2030. So, let's take a closer look at these tech giants and determine whether AMD or Microsoft is the better stock to invest in AI.
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Better Artificial Intelligence Stock: AMD vs. Microsoft