15 Best Stocks to Buy According to Billionaire Ray Dalio

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

Bridgewater Associates’ Stake: $355 Million

Advanced Micro Devices, Inc. (NASDAQ:AMD) made an appearance in the 13F portfolio of Bridgewater Associates for the first time in the second quarter of 2011. This position consisted of just 70,000 shares and was sold off by the end of the year. New positions were opened in 2019, 2021, and 2022, but were also sold off. The latest holding, purchased at the beginning of 2024, consisted of 670,000 shares initially but has grown since then. Filings for the fourth quarter of 2025 that the fund owned 1.66 million shares in the semiconductor company, representing a decrease of more than 7% compared to filings for the previous quarter.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is often called the strategic alternative to NVIDIA. Many hedge funds view it as such, even though the company has many competitive advantages over NVIDIA. A primary catalyst for hedge fund buying in early 2026 was the announcement of a $60 billion, five-year GPU supply agreement with Meta Platforms.This deal, which includes the delivery of the newest MI450 architecture marketed by AMD in late 2026, acts as a massive de-risking event. Hedge funds are also increasingly focused on the inference stage of AI. The MI300X by AMD and the upcoming MI450 series reportedly offer 10–20% better performance in specific inference workloads compared to NVIDIA H100.

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