One chip (maker) to rule them all. Advanced Micro DevicesAMD

is making strides, narrowing the gap with industry leader NvidiaNVDA

. AMD reported breakout earnings earlier this week, with AI data center revenue doubling year-over-year to $2.8B. Originally known for PC and server microprocessors, AI now accounts for nearly half of AMD’s revenue — pumping a stock rally earlier this week as investor outlook shifts.

• After selling a record $1B in AI chips in Q2, AMD raised its annual AI chip forecast to $4.5B — a $500M bump — signaling confidence in its flagship MI300 series.
• The upcoming MI325X accelerator, launching in Q4, underscores AMD’s commitment to annual AI chip releases, mirroring Nvidia’s successful strategy.

More chips at the table:NVDA

, famous for “only going up,” has lost its way — plummeting ~23% since Jul. 10. Meanwhile, Goldman Sachs analysts are maintaining a “buy” rating on AMD, despite cutting their outlook for $NVDA. Analysts project AMD’s stock could reach $245 by the end of 2026, representing a ~77% increase from current levels. If these projections hold, we’ll assume AMD stands for “Always Making Dough.”