10 AI Stocks Making Waves This Week

4. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 96

Advanced Micro Devices, Inc. (NASDAQ:AMD) develops and sells semiconductors, processors, and GPUs for data centers, gaming, AI, and embedded applications. On May 20, the company announced a strategic collaboration with Red Hat, the world’s leading provider of open source solutions. The collaboration aims to better support AI workloads and help companies run AI and virtual machines (VMs) faster, cheaper, and more efficiently.

Red Hat’s industry-leading open source solutions, together with the comprehensive portfolio of AMD’s high-performance computing architectures, will help organizations with the capacity and resources needed to meet workload demand and diversity rising due to artificial intelligence. The crux of the partnership is to enable businesses to manage resource-heavy AI tasks and existing virtual infrastructure without requiring major upgrades.

“By combining Red Hat’s industry-leading open source platforms with world-class AMD Instinct GPUs and AMD EPYC CPUs, we’re delivering the performance and efficiency customers demand to accelerate AI, virtualization and hybrid-cloud innovation.”

-Executive Vice President and Chief Commercial Officer, AMD