5 Best Fast Growth Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holdings: 134

EPS Growth Next 5 Years: 62.77%

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the best fast growth stocks to buy according to hedge funds. On June 8, Advanced Micro Devices, Inc.’s (NASDAQ:AMD) Chair and CEO, Dr. Lisa Su, announced the company’s commitment to invest up to £2 billion over the next five years in the United Kingdom. Dr. Su made the announcement on the first day of London Tech Week, which took place from June 8 to June 12.

The investment will be made in chunks where there will be a package for infrastructure deployments, research collaborations, and ecosystem partnerships. All these investments, said Dr. Su, will be centered on AMD’s Instinct GPUs, EPYC CPUs, and ROCm open software. These are the three pillars of AMD’s AI compute stack.

The CEO detailed that AMD, together with Dell Technologies, is already collaborating with the University of Cambridge to expand its national AI infrastructure footprint. This includes supporting the new Zenith AI supercomputer. The supercomputer is a major UK AI-for-science platform funded by the Department for Science, Innovation and Technology (DSIT) and UK Research and Innovation (UKRI). It is designed to serve a broad range of scientific disciplines like healthcare research, climate modeling, materials science, and engineering simulation.

The two companies are also building the Sunrise fusion AI system, which is a second AI supercomputer at Cambridge. This one is funded by the Department for Energy Security and Net Zero, owned by the UK Atomic Energy Authority (UKAEA). Sunrise is dedicated exclusively to the fusion energy mission.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a semiconductor company. It designs and sells microprocessors, GPUs, and adaptive system-on-chip products for data centers, personal computers, gaming, and embedded markets.