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Advanced Micro Devices (AMD) stock is on a solid run, rewarding investors with gains that have outpaced those of its much larger rival, Nvidia (NVDA). AMD shares have climbed more than 104% over the last 12 months, reflecting enthusiasm around artificial intelligence (AI).
This rally is particularly notable given the persistent skepticism surrounding AMD’s ability to compete head-to-head with Nvidia in the high-end graphics processing unit (GPU) market. Nvidia remains the dominant player in advanced GPUs, yet AMD’s stock performance suggests that investors are increasingly confident in the company’s broader growth strategy, execution, and long-term positioning.