22 Stocks on Jim Cramer’s Radar Recently

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

Number of Hedge Fund Holders: 113

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the stocks on Jim Cramer’s radar recently. Cramer highlighted the talk of the company’s quantum work. He commented:

“AMD, similarly, supply-constrained for much of its product line. CEO Lisa Su never abandoned traditional PCs in her zeal for, to be in GPUs. Smart thinking, that, plus talk of AMD’s quantum work with IBM on yesterday’s call, lifted the stock 7.6%, to a new high.”

Advanced Micro Devices, Inc. (NASDAQ:AMD) makes semiconductors such as CPUs, GPUs, and adaptive chips. The company’s brands include AMD Ryzen, Radeon, EPYC, Instinct, and Versal. During the October 6 episode, Cramer called the company’s CEO “one of the toughest execs in the business,” as he stated:

“Look, you either believe or you don’t believe. It is as simple as that. You either accept that OpenAI is going to pay for the billions of dollars of chips they just ordered from AMD, or you refuse to believe it, and you assume AMD will get stiffed because OpenAI doesn’t have the money or won’t need the chips. I prefer to accept the answer I got on Squawk on the Street this very morning from Lisa Su, the brilliant CEO of AMD. She’s not worried, and neither is Greg Brockman, the co-founder and president of OpenAI…

OpenAI’s Greg Brockman told us this morning that he basically needed all the computing power he could get his hands on, and AMD’s product was excellent. OpenAI will be taking a stake in AMD, a slug of warrants which kick in as AMD stock goes higher.

This deal could be worth tens of billions of dollars to AMD and Lisa Su. Now, the stock market lapped it up with AMD rallying $39 from nearly 24% in one session… They (OpenAI) have a no-nonsense CFO in Sarah Friar, a storied fixture at young companies and former managing director at Goldman Sachs, whom I trust through and through, and AMD’s Lisa Su is one of the toughest execs in the business. Both have impeccable credentials, but look, what can I tell you? I trust them.”