Josh Brown on Advanced Micro Devices (AMD) Sudden Stock Spike: ‘Ludicrous Activity’

We recently published 10 Trending Stocks Moving These Days. Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the trending stocks moving these days.

On October 9, Josh Brown from CNBC commented on AMD’s massive surge following its deal with OpenAI. Brown said he fails to understand the “thought process” of buying stocks based on their short-term spikes. Here is what Brown said:

“Who buys charts like this? Who’s the buyer today? I can’t even imagine who that last muppet must be that owns this stock no matter what. I can’t even imagine what the thought process is. It looks incredible, obviously, but does nobody think that there’s the potential for two or three bad days in the market? Half of that 43% could be wiped away. You have multi-hundred billion dollar market cap companies going up 40 and 50% inside of a week. Yeah, it’s ludicrous activity. It doesn’t mean Advanced Micro Devices Inc (NASDAQ:AMD) doesn’t deserve to be there—it’s the speed at which these things are happening.”

AMD shares jumped after the company announced a multi-year agreement with OpenAI to provide AI chips to the ChatGPT maker.

Josh Brown on Advanced Micro Devices (AMD) Sudden Stock Spike: ‘Ludicrous Activity’

Macquarie Core Equity Fund stated the following regarding Advanced Micro Devices, Inc. (NASDAQ:AMD) in its second quarter 2025 investor letter:

“Advanced Micro Devices, Inc. (NASDAQ:AMD) designs and manufactures semiconductors, including central processing units (CPUs), graphics processing units (GPUs), and other high-performance computing solutions for various markets like gaming, data centers, and AI. The company currently maintains a small market share for GPUs used for AI applications though by 2027, we believe the company will have product on par with the market leader, NVIDIA. Hyperscale customers with deep programming expertise may increasingly decide to dual-source high-end chips leading to much larger revenue and profit gains in coming years for AMD than investors currently expect.”

While we acknowledge the risk and potential of AMD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMD and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.