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Advanced Micro Devices

AI SILICON · NASDAQ · PEER OF NVDA

◆ THESIS
  • MI300X / MI325X manufactured at TSMC. Same single-foundry exposure as NVDA. Cheaper-priced than NVDA which provides slight margin of safety.

◆ PEER PICK

MI300X / MI325X AI accelerators. Distant second to NVIDIA in market share but cheaper-priced. More cyclical than NVDA — a smaller player gets hit harder in a slowdown.

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