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8. Advanced Micro Devices Inc (NASDAQ:AMD)

Renaissance Technologies Equity Stake: $42.84 Million

Number of Hedge Fund Holders: 134

Advanced Micro Devices Inc (NASDAQ:AMD) is one of Renaissance Technologies’ top semiconductor stock picks. In the past month, AMD stock has gained more than 40%. Moreover, this semiconductor stock has jumped by about 125% year to date .

Advanced Micro Devices Inc (NASDAQ:AMD has started ramping production of its next-generation EPYC processor (Venice) using Taiwan Semiconductor Manufacturing Company’s advanced 2nm process technology.

On May 21, the company said Venice is the first high-performance computing product in the industry to enter production on TSMC’s 2nm process technology. The company cast this as a milestone in its data center CPU roadmap. It added that this milestone shows continued progress toward delivering the kind of performance and energy efficiency that the next-generation cloud and AI infrastructure requires.

While the Venice production ramp is taking place in Taiwan, AMD plans to expand production at TSMC’s facility in Arizona.

AMD also announced plans to extend TSMC’s 2nm process technology across its data center CPU lineup to include a follow-on EPYC processor called Verano. The company said Verano will include LPDDR memory integration, and that this will deliver the CPU performance, efficiency, and bandwidth required to support the growing compute demand of AI workloads.

Advanced Micro Devices Inc (NASDAQ:AMD), based in California, is a global semiconductor company. It provides computer processors, graphics cards, system-on-chips, and other semiconductor products. The company’s products are used in everything from consumer laptops to gaming consoles, cloud data centers, and AI infrastructure.