10 Trending AI Stocks on Wall Street Right Now

6. 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 16, Barclays reiterated the stock as “Buy” and raised its price target to $130 per share from $110. The rating has been issued after AMD’s recent deal announcement with Saudi startup Humain. AMD said that Humain has committed $10 billion to the project. AMD’s rally is also being fueled by the company’s announcement that its board of directors has authorized $6 billion in share buybacks.

“AMD is gaining share in PC and Server with a call option on AI if the MI [machine learning] platform can succeed.”