The Secret to Trading Success? It's Simpler Than You Think

Forget fancy software. Top traders rely on free alerts that tell them when to jump on the next big trade. Straight to your phone. No guessing, no stress.

AMD Making 'Great Progress' With AI Giants: Jim Cramer Says AI Chip Story Is 'Not Just Jensen Huang'

Adam Eckert
October 30, 2024

Although NVIDIA Corp (NASDAQ:NVDA) has dominated the AI chip market to date, Advanced Micro Devices, Inc. (NASDAQ:AMD) CEO Lisa Su believes AMD will continue to see significant growth in the AI space — and she’s not alone.

Wednesday on CNBC’s “Squawk On The Street,” Jim Cramer suggested AMD will play a huge role in the future of AI.

What To Know: Cramer was an early supporter of Nvidia and a longtime fan of CEO Jensen Huang. The Jim Cramer Charitable Trust also owns shares of AMD as Cramer believes more than one chipmaker will rise in the AI revolution.

“One of the reasons that we own your stock for the Charitable Trust and have for some time is we are firm believers that AI is so big that it actually has room for two players, that it’s not just Jensen Huang and then nobody,” Cramer said.

“Could you make the case that actually you are a strong number two and getting stronger?”

AMD CEO On AI: Su responded to Cramer, noting she is a “huge believer” in AI. The AMD CEO predicted that we are at the beginning of an AI supercycle and that AI will be used in “every aspect of computing.”

“Whether you’re talking about the large clouds, enterprises, you’re talking about the edge or you’re talking about PC clients, you need all different sizes of compute for that and that’s exactly what we have,” Su said.

AMD reported third-quarter results late Tuesday. Revenue of $6.8 billion came in ahead of estimates of $6.71 billion as Data Center sales jumped 122% year-over-year.

Check This Out: What’s Going On With Chip Stocks Nvidia, Broadcom, Taiwan Semi, Micron And Others Wednesday?

Su told CNBC that when AMD introduced its MI300 AI GPUs near the end of last year, the company forecasted full-year 2024 sales of approximately $2 billion. Now the company’s guidance is calling for sales of more than $5 billion.

Over the past year, AMD has advanced partnerships and made “great progress” with Meta, Microsoft, Oracle and a number of other AI players, Su said.

“And we’re going to continue to do that, you know, going forward. So I think AI is really at the beginning and our goal is to be a very, very strong overall compute provider into that space,” Su said.

AMD Price Action: AMD shares were down 9.54%, trading at $150.47 at the time of publication Wednesday, according to Benzinga Pro.

Read Next:

  • Super Micro Computer Stock Dives As Auditor Resigns: What’s Going On?

Photo: Shutterstock.

Continue Reading...

Popular

Expanded College Football Playoff field draws more bets and on more teams

LAS VEGAS (AP) — If Texas coach Steve Sarkisian holds aloft the College Football Playoff trophy next month, that will be bad news for BetMGM Sportsbook.

What's Going On With Siyata Mobile Stock Thursday?

Siyata Mobile shares are trading higher on Thursday after the company made several key corporate announcements.

Donald Trump Can't Save You From This Crisis - Ad

A huge economic crisis is about to strike America. 12 months from today, our country could be unrecognizable. That's why I've recorded this video and released it for free. Inside, I lay out exactly what's happening and several critical moves I believe every American should make right now.

Companies tighten security after a health care CEO's killing leads to a surge of threats

“Wanted” posters with the names and faces of health care executives have been popping up on the streets of New York. Hit lists with images of bullets are circulating online with warnings that industry leaders should be afraid.

My TOP Altcoin for Right Now Is... - Ad

Searching for the top investment opportunity in crypto? Look no further. Our $3 report gives you the full scoop. You'll get this exciting token's name, our recommended investment strategy, and growth projections. Time is of the essence with this one...

Costco Q1 Earnings: Can Bullish Momentum Beat The Overbought Blues?

Costco (COST) to report Q1 earnings on Thursday. Stock up 58.01% in past year, 17.32% YTD, but overbought.

What do we know about the mysterious drones reported flying over New Jersey?

A large number of have been reported flying over parts of New Jersey in recent weeks, sparking speculation and concern over who sent them and why.

"This Will Be Worse Than the Great Depression, the Dot-Com Crash, and the 2008 Crisis Combined" - Ad

According to Dan Ferris, who has predicted nearly every major market crisis of the last 25 years, a new crisis in the US economy could soon cost you 50% of your portfolio or more if you don't prepare your wealth now. Especially if you're sitting on large gains.

Warren Buffett Says Parents Should Do This One Thing Before They Die, Whether They Are Rich Or Not

Legendary investor Warren Buffett has a piece of critical advice for parents that he believes they should follow, regardless of their wealth status.

The Seven Stocks Set to Dominate Trump's Second Term - Ad

According to Alex Green, seven new stocks are set to take over during Trump's second term. Thanks to the sudden rise of AI, he says these stocks will dominate the coming years. In fact, he's claiming that $1,000 in each could turn into more than $1 million by 2030. Is he right?

Juan Soto's $765M deal with the Mets is the largest in MLB history. Here's who he passed

and the New York Mets agreed to a Sunday night, a person familiar with the deal told The Associated Press. The person spoke on the condition of anonymity because the agreement hadn't been announced and was subject to the completion of a successful physical.

Fortnite players 'tricked' into unwanted purchases are starting to get refunds. Here's how to apply

NEW YORK (AP) — U.S. consumers who were “tricked” into purchases they didn't want from Fortnite maker are now starting to receive refund checks, the Federal Trade Commission said this week.

Watch Jeff's New Demo: Elon Musk's New $9 Trillion AI Product - Ad

Why is Jeff Brown blindfolded and with his hands tied behind his back? It's all part of a crazy experiment involving a Cybertruck. See this demo because if Jeff is right... Elon Musk could make a lot of people rich with his new AI technology.

At the crossroads of news and opinion, 'Morning Joe' hosts grapple with aftermath of Trump meeting

One of the striking things about how furiously many people reacted to the news last week that MSNBC “Morning Joe” hosts Joe Scarborough and Mika Brzezinski was how quaint their defenders sounded.

Eli Lilly invests $3B to expand Wisconsin factory to help meet demand for Mounjaro, Zepbound

Eli Lilly is spending another $3 billion to bulk up manufacturing as the drugmaker seeks to stoke production of some and future products.

AI-Driven Security: A Market Set to Explode - Ad

The future of AI is here, and it's in security robotics. One company is capitalizing on this growing demand, already securing major contracts and scaling rapidly. This could be the next big opportunity in AI. Want to know the details?

Hunt for the gunman who killed UnitedHealthcare's CEO heads into third day as new clues emerge

NEW YORK (AP) — As the investigation into a masked gunman who the head of one of the largest U.S. health insurers moved into its third day Friday, possible leads emerged about his travel before the shooting and a message scrawled on ammunition found at the crime scene.

Friday's Top 5 Trending Stocks: What's Going On With SMCI, Nvidia, MicroStrategy?

SMCI, Nvidia, MicoStrategy, SoFi Technologies and Tesla are the top five trending tickers on Yahoo Finance Friday. Here's a look at what grabbed retail investors' attention as much of Wall Street takes the day off.

Why Do So Many Billionaire Investors Seem Scared of This Bull Run? - Ad

Well-connected billionaires like Warren Buffett have been selling off US stocks at an alarming rate. Today, one of America's most trusted market experts is stepping forward to explain what's really going on behind the scenes of this bull market - and why you could soon face losses of 50% or more if you do nothing.

Jeff Bezos says he is 'optimistic' about a new Trump term and can help with cutting regulations

Amazon founder Jeff Bezos said Wednesday that he is “optimistic” about President-elect Donald Trump’s second term and expressed some excitement about potential regulatory cutbacks in the coming years.

SEC Approves America's First 24-Hour Stock Exchange — What It Means For You

U.S. regulators approved the nation's first 24-hour stock exchange on Wednesday, marking a significant shift in American securities trading as retail investors increasingly demand round-the-clock market access.

Do NOT Buy Nvidia, Apple, Microsoft, Meta, Tesla, or ANY Major Tech Stock... - Ad

31 billionaires (including: Warren Buffett, Elon Musk, Jeff Bezos, and more) are quietly unloading shares of their OWN stocks at RECORD pace... But why? Wall Street legend Eric Fry says it's because, soon: "America's most popular stocks like Nvidia, Apple, Meta, Tesla, and thousands more... are set to come plummeting back to Earth." Erasing YEARS of investor profits... Sparking a $17 trillion PANIC on Wall Street...

Trump's Energy Policies Poised To Reshape Oil & Gas Market: Winners And Losers Revealed

Trump's energy plans could reshape US markets with potential tariffs, increased production, and LNG exports. Goldman Sachs breaks down winners and losers.

December 16th - The Biggest Crypto Event in History - Ad

According to the man who called every major market top and bottom for the last 29 years... A single event triggering on November 18th will send the crypto market soaring. But what's more exciting... is that this event could send a small sector of the crypto market soaring 5X, 25X, and even 100X higher in just days.

Top 3 Risk Off Stocks That May Collapse This Month

Three stocks in the consumer staples sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

French government faces no-confidence vote over Barnier's austerity budget

PARIS (AP) — is bracing for a no-confidence vote this week, a political reckoning almost certain to topple his fragile government and send shockwaves across the eurozone.

AI Has Already Minted 500,000 New Millionaires in 2 Years... - Ad

If you missed out on the riches from AI the past 12 months, listen up: A brand new AI "wealth wave" is already hitting the markets... and could pay out even more than what we've already seen. There's still time to get into AI as an investor in this "Bot Com Revolution" and avoid getting left behind.

He'll be the last meatpacker in the Meatpacking District. Here's how NYC's gritty 'hood got chic

NEW YORK (AP) — When John Jobbagy’s grandfather immigrated from Budapest in 1900, he joined a throng of European butchers chopping up and shipping off meat in a loud, smelly corner of Manhattan that New Yorkers called the Meatpacking District.

Wall Street Struggles For Direction, Tesla Flirts With Record Highs, Bitcoin Tumbles Below $95,000: What's Driving Markets Tuesday?

The U.S. stock market lacked direction on Tuesday morning as investors stayed on the sidelines ahead of Wednesday’s release of November inflation data, a critical report that could influence the Federal Reserve’s decision on a potential interest rate cut next week.

10 Billion Humanoid Robots on Planet Earth? - Ad

Maybe growing up, you imagined we'd all have our own personal "robot butler" roving around our home doing what we command. Believe it or not, but that's EXACTLY what will soon happen with this new "Bot Com Revolution." Elon Musk is predicting 10 billion humanoid robots by 2040. Even more amazing, Musk predicts these robots could cost only $20,000 each -- about the cost of a good used car!

Melinda French Gates plans to match $1M in GivingTuesday gifts to groups that support women

NEW YORK (AP) — Melinda French Gates is offering to match up to $1 million in gifts to two nonprofit organizations to help spur , which has become a for nonprofits.

This Crypto 'Killer App' Could Grow 1,000% Under A Trump Administration: Report

A new report indicates that stablecoins, currently a $163 billion market, could grow to represent 10% of the U.S.

Is This Defi Coin Your Next "10-Bagger" Investment? - Ad

Our #1 pick in decentralized finance is largely overlooked by mainstream investors (for now). This governance token could skyrocket as DeFi adoption surges with the smart money and institutions.

Google's Willow Quantum Computing Chip Sparks Stellar Conversation Between Elon Musk And Sundar Pichai: 'Most Obvious Path Is Staring At Our Eyes'

Google CEO Sundar Pichai and Elon Musk discussed ambitious technological possibilities, from leveraging quantum computing advancements like Google's Willow chip to envisioning solar-powered quantum clusters in space, highlighting their shared focus on transformative innovation.

Trump speaks with Mexico's president, claims an agreement to effectively close the border

WEST PALM BEACH, Fla. (AP) — Two days after President-elect Donald Trump sweeping new tariffs on Canada and Mexico as part of his effort to crack down on illegal immigration and drugs, he said he spoke with the Mexican president and she “agreed to stop Migration through Mexico."

Why December 18th Will Impact Stocks More Than The Election - Ad

A man from a completely different government branch is going to stand up, say a few words... and make history in the stock market. This event comes along only every 25 years... And experts are already positioning themselves to profit from it.

What to know about the fatal shooting of the UnitedHealthcare CEO

The chief executive of UnitedHealthcare, one the nation's largest insurers, Wednesday in midtown Manhattan in what police described as a targeted attack by a shooter outside a hotel where the company was holding a conference.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service