What smart money is saying about Advanced Micro Devices

AMD · Technology · Semiconductors · Market cap $844.36B

8 funds in our archive have pitched Advanced Micro Devices — most recently Guinness Global Innovators Fund in July 2026.

Company profile

Advanced Micro Devices, Inc. (AMD), established in 1969 and headquartered in Santa Clara, California, operates as a global leader in the semiconductor industry. The company organizes its extensive operations into two primary segments: Computing and Graphics, and Enterprise, Embedded and Semi-Custom. In its Computing and Graphics division, AMD develops a range of products including x86 microprocessors (often as accelerated processing units), chipsets, and various graphics processing units (GPUs), encompassing discrete, integrated, data center, and professional variants, alongside providing development services. The Enterprise, Embedded and Semi-Custom segment focuses on server and embedded processors, bespoke System-on-Chip (SoC) products, and foundational technology for popular game consoles, also offering associated development support. AMD's diverse product lineup features processors for desktop and notebook personal computers under well-known brands such as AMD Ryzen, Ryzen PRO, Ryzen Threadripper, Threadripper PRO, AMD Athlon, Athlon PRO, AMD FX, AMD A-Series, and PRO A-Series. Discrete GPUs for these PCs are offered through the AMD Radeon graphics and AMD Embedded Radeon graphics brands, while professional graphics solutions include AMD Radeon Pro and AMD FirePro. Furthermore, the company provides high-performance accelerators for servers, including Radeon Instinct, Radeon PRO V-series, and AMD Instinct, along with AMD EPYC microprocessors designed for server environments. Its embedded processor solutions span multiple brands, such as AMD Athlon, AMD Geode, AMD Ryzen, AMD EPYC, AMD R-Series, and G-Series. AMD also produces chipsets under its own trademark and crafts customer-specific solutions leveraging its CPU, GPU, and multimedia expertise, including specialized semi-custom SoC products. AMD reaches its wide array of clients, which comprise original equipment manufacturers (OEMs), public cloud service providers, original design manufacturers (ODMs), system integrators, independent distributors, online retailers, and add-in-board manufacturers. The company's sales and distribution network includes its direct sales force, independent distributors, and dedicated sales representatives.

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Reported positions

Bought

Sold

Letters

Position history

Between Q4 2024 and Q3 2026, 5 fund letters reported a position in Advanced Micro Devices — 4 opened or added to the position, 1 trimmed or exited.

Fund letters reporting a position in Advanced Micro Devices, by quarter
Quarter	Letters	Bought	Sold	Theses
Q3 2026	0	0	0	1
Q2 2026	5	4	1	2
Q4 2025	0	0	0	3
Q2 2025	0	0	0	1
Q4 2024	0	0	0	1

Fund activity · 5 positions · 5 moves

New positionGuinness Global Innovators Fund
June 2026
“We sold our position in Adobe and, as part of our one-in-one-out process, replaced it with a new position in AMD.”
Read the letterAdvanced Micro Devices
New positionGuinness Global Equity Income Fund
June 2026
“Our recent purchase of AMD reflects this shift; the company is well positioned to benefit from rising CPU demand as AI infrastructure becomes broader and more compute-intensive.”
Read the letterAdvanced Micro Devices
AddedClearBridge Investments Value Strategy
June 2026
“In IT, we added Broadcom and Advanced Micro Devices to increase exposure to AI hardware without chasing the most extended areas of the trend.”
Read the letterAdvanced Micro Devices
New positionClearBridge Investments Appreciation Strategy
June 2026
“During the quarter, we initiated new positions in SpaceX in communication services, Micron Technology, Cisco Systems, Advanced Micro Devices and Texas Instruments in IT and Diamondback Energy in energy.”
Read the letterAdvanced Micro Devices
TrimmedWhite Falcon Capital Management Partner Strategy
June 2026
“For that reason, we’ve sold roughly three‑quarters of our AMD position.”
Read the letterAdvanced Micro Devices

Also mentioned · 14

These funds discuss Advanced Micro Devices — as a competitor, benchmark or comparable — without disclosing a position in it.

MentionedLongriver Partners Fund
July 2026
“They are buying accelerators and custom silicon from Nvidia, AMD, Broadcom and others.”
Read the letterAdvanced Micro Devices
MentionedBlack Bear Value Partners Black Bear Value Fund, LP
June 2026
“Earlier this year Bank of America notes that the “AI Big Ten” – the Magnificent Seven plus Broadcom, AMD, and Micron – represented roughly 40% of the total U.S. market capitalization.”
Read the letterAdvanced Micro Devices
MentionedClearBridge Investments Large Cap Growth Strategy
June 2026
“The largest relative detractors included Netflix and Intuitive Surgical as well as not holding Advanced Micro Devices, Lam Research and KLA.”
Read the letterAdvanced Micro Devices
MentionedSaltLight Capital Co‑Investor Letter
June 2026
“Google's TPUs and Amazon's Trainium chips now run inference for Anthropic at scale, and AMD has been signed for gigawatts more from next year.”
Read the letterAdvanced Micro Devices
MentionedDeep Sail Capital Partners
June 2026
“including its AMD Helios collaboration) should increase the dollar content per AI deployment.”
Read the letterAdvanced Micro Devices
MentionedRoyal London AM Global Equity Select Fund (IRL)
June 2026
“Not holding Micron Technology or Advanced Micro Devices hit relative returns.”
Read the letterAdvanced Micro Devices
MentionedHarding Loevner Global Developed Markets Equity
June 2026
“The semiconductor boom greatly benefited chipmakers the portfolio doesn’t hold, including AMD, Intel, and Micron.”
Read the letterAdvanced Micro Devices
MentionedWedgewood Partners Large Cap Focused Strategy
June 2026
“the warrants Meta holds on Advanced Micro Devices (AMD), related to a strategic sourcing arrangement with AMD struck in late February (~5 months ago), are now worth close to $90 billion”
Read the letterAdvanced Micro Devices
MentionedRoyal London AM Global Equity Select Fund
June 2026
“Not holding Micron Technology or Advanced Micro Devices hit relative returns.”
Read the letterAdvanced Micro Devices
MentionedBaron Opportunity Fund
June 2026
“While the Fund’s semiconductor investments added value overall, our non-ownership of Advanced Micro Devices, Inc. was the largest drag on relative performance.”
Read the letterAdvanced Micro Devices
MentionedClearBridge Investments Dividend Strategy
June 2026
“Our underweight to Micron and a select group of other non-dividend- paying data center plays, like Advanced Micro Devices, Intel and SanDisk, were the largest drivers of our relative underperformance.”
Read the letterAdvanced Micro Devices
MentionedRoyal London AM Global Equity Income Fund
June 2026
“Certain technology stocks that we don’t hold, such as Intel and Advanced Micro Devices, performed well and had a negative influence on relative returns.”
Read the letterAdvanced Micro Devices
MentionedArtisan Partners Global Value Fund
June 2026
Named in a table in Artisan Partners Global Value Fund’s letter.
Read the letterAdvanced Micro Devices
MentionedHL Global Developed Markets Equity
May 2026
“the absence of others from our portfolio, particularly memory chip maker Micron and chip designer Advanced Micro Devices, has hurt relative returns.”
Read the letterAdvanced Micro Devices

Fund coverage · 8 theses

Guinness Global Innovators Fund
July 2026
AMD is a high-performance AI semiconductor company benefiting from AI infrastructure build-out, server CPU share gains and margin expansion.
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White Falcon Capital Management Partner Strategy
June 2026
Advanced Micro Devices was bought for its net-cash balance sheet, depressed valuation, strong management, engineering culture, competitive products, and exposure to secular semiconductor growth and AI optionality.
Read the full thesis
Guinness Global Innovators Fund
June 2026
AMD is positioned to benefit from AI infrastructure growth, rising server CPU demand, and operating leverage, supported by strong leadership and a broader full-stack semiconductor strategy.
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White Falcon Capital Management
December 2025
Advanced Micro Devices designs high-performance semiconductors across PCs, gaming, and data centers, with market share gains and long-term EPS targets implying substantial upside.
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Aristotle Focus Growth
December 2025
Advanced Micro Devices is a leading high-performance computing company positioned for long-term growth from AI and cloud tailwinds with strong product momentum and expanding TAM.
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Aristotle Large Cap Growth
December 2025
Advanced Micro Devices is a high-performance computing leader positioned for long-term AI and cloud growth with momentum in accelerators and server CPUs despite near-term sentiment-driven multiple compression.
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Macquarie Core Equity Fund
June 2025
Advanced Micro Devices Inc. is positioned to significantly increase its market share in AI GPUs by 2027, potentially rivaling industry leader NVIDIA and driving larger revenue gains than currently anticipated.
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White Falcon Capital Management
December 2024
AMD is facing disappointment over potential shortfalls in AI chip revenues but remains poised to benefit from its other businesses and could still capture a small share of the expansive AI chip market.
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