12 Best Monopoly Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 134

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the Best Monopoly Stocks to Buy According to Hedge Funds. On July 6, Bloomberg reported that Turing Inc. is being backed by AMD Ventures. Furthermore, it has started adopting Advanced Micro Devices, Inc. (NASDAQ:AMD)’s AI accelerators in its systems. To provide a brief background, AMD Ventures is the corporate venture capital arm of Advanced Micro Devices, Inc. (NASDAQ:AMD).

Turing Inc. plans to offer its software on the consumer market as well as in driverless robotaxis as early as 2028, reported Bloomberg. In an effort to ensure price competitiveness in the broader capital-intensive autonomous driving arena, the company decided to utilise AMD graphics processors.

The startup continues to add to its capabilities as it is building towards the commercial launch. The company has been dependent on Nvidia hardware for AI training and inferencing since it was founded, and handles ~10% of the AI training needs with the help of AMD graphics processing units.

Advanced Micro Devices Inc. (NASDAQ:AMD) is a leading semiconductor company specializing in high-performance computing and graphics solutions. Its broad product portfolio includes microprocessors, graphics processors, and system-on-chip (SoC) solutions designed for data centers, gaming, and embedded systems.