Top 10 Stocks That Will Profit from AI

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

Number of Hedge Fund Holders: 132

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the Top 10 Stocks That Will Profit From AI. Their “AI Everywhere, for Everyone” strategy focuses on providing an open software ecosystem (ROCm) and hardware that spans from data centers to AI PCs.

On May 13, 2026, Bank of America adjusted the firm’s price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) by $50, raising it from $450 to $500 while keeping a Buy rating on the stock. The firm has raised its 2030 AI data center market outlook from $1.4 trillion to $1.7 trillion as the analyst expects accelerating sales through 2026, with 2027 gains driven by improved tokenomics and next-generation compute architectures.

Earlier, in another development, on May 6, 2026, Bernstein upgraded its rating on Advanced Micro Devices, Inc. (NASDAQ:AMD) from Market Perform to Outperform with a price target of $525, up from $265. According to the firm’s analyst, Advanced Micro Devices, Inc. (NASDAQ:AMD)’s first quarter results were very positive, with data center, client, and gaming performing above expectations. The firm anticipates the company’s earnings per share to exceed $14 by 2027, potentially reaching $20 in 2028, assuming the market can sustain the AI boom. Analysts believe shares will likely continue to climb despite their rallies.

Founded in 1969, Advanced Micro Devices Inc. (NASDAQ:AMD) is a leading semiconductor company. Based in California, the company specializes in high-performance computing and graphics solutions. Its broad product portfolio includes microprocessors, graphics processors, and system-on-chip (SoC) solutions designed for data centers, gaming, and embedded systems.

While we acknowledge the potential of AMD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMD and that has 100x upside potential, check out our report about the cheapest AI stock.

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