AMD

CPUs, GPUs and AI accelerators for data centres, PCs and gaming consoles.

Public · NASDAQ:AMD

Sector: Semiconductors
Based in: Santa Clara, United States
Founded: 1969
Invested: Apr 2021

Advanced Micro Devices designs processors for servers (EPYC), PCs (Ryzen) and graphics (Radeon), plus the Instinct accelerators it sells for AI in data centres. Its custom chips power the PlayStation and Xbox consoles, and the adaptive chips from its acquisition of Xilinx are used in networking, cars and industrial equipment.

AMD is "fabless": it designs chips and has them manufactured by partners, mainly TSMC. It spun off its own factories as GlobalFoundries in 2009.

AMD was founded in 1969. Under Lisa Su, CEO since 2014, it went from near-bankruptcy to a leading supplier of data centre CPUs and the main challenger to Nvidia in AI accelerators.

As of 29 Sep 2026

Why I own it

AMD is the credible second source for data centre compute. Its EPYC chips took share from Intel in servers, and its Instinct accelerators give AI buyers the alternative to Nvidia they badly want.

As compute demand grows by orders of magnitude, no customer wants a single supplier. Being a strong number two in a market that big is a great place to be.

Then · Apr 2021

Since I invested

Held for: 5 years, 6 months
Status: Active
Share price, past year: +167%
In the notebook: 2 notes

Thesis check since 29 Sep 2026

7 developments support it, 0 challenge it

SupportsBuilt for the AI era.
SupportsOpen models need an open stack.
SupportsTo meet the aggressive performance goals of AI, leaders need reliable solutions.

Checked against the thesis by Jev, an AI model. Can be wrong.

Visit amd.com

From the notebook

All notes

Coming up2 Oct 2026
TSMC's Q3 result lands on 15 October
TSMC reports third-quarter earnings on 15 October, Taiwan time, having guided revenue to $44.6bn-$45.8bn and flagged pressure on margins. That guidance reflects temporary pressure from 2-nanometer technology ramp-up costs, even as AI-driven orders keep volumes climbing. The call is the first real test of whether advanced-node demand from Nvidia, AMD and Apple is still outrunning TSMC's capacity to build it.
TSMC Nvidia AMDinvestor.tsmc.com investing.com
Since this note:TSMC −0.3%Nvidia −0.2%AMD +0.8%(S&P 500 +1.3%)
Connections28 Sept 2026
Xanadu and AMD's Backline wires quantum chips into EPYC servers
Xanadu and AMD this month released Backline, an open platform co-designed by the two companies for rapid communication between quantum and classical computing hardware. It targets end-to-end loop times under 3 microseconds between Xanadu's photonic processors and AMD's EPYC and Threadripper CPUs, Instinct GPUs and Versal FPGAs. For AMD it's a low-cost way into quantum-adjacent infrastructure; for Xanadu it ties its PennyLane software to chips already sitting in data centres.
Xanadu AMD
Since this note:Xanadu −17.3%AMD −1.6%(S&P 500 +0.3%)