Shares of Advanced Micro Devices (NASDAQ:AMD) fell today after it lost the top slot on Morgan Stanley’s list of likely winners from AI in the short term. Nvidia (NASDAQ:NVDA), noted Morgan Stanley analysts, is the only company out there that’s really in a position to take advantage fully of AI developments right now. Morgan Stanley analysts also believe that Nvidia has a solid future in front of it. As a result, NVDA shares ticked slightly higher despite the broad market’s selloff.
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But that position shift may not stay for long, as AMD confirmed that the “AI Superchip” it introduced at the Data Center and AI Technology Premiere last week was indeed designed to challenge Nvidia’s primacy in the market. President and CEO Lisa Su revealed that AMD is “… laser-focused on accelerating the deployment of AMD AI platforms at scale in the data center…” a move that could give Nvidia a run for its money going forward.
Overall, although NVDA is the top pick at Morgan Stanley, it appears that analysts as a whole expect more upside potential from AMD stock. Indeed, Wall Street anticipates gains of 11.85% out of AMD but only 5.75% upside from NVDA.
