AMD vs. Intel + NVIDIA

???? 1. Technology / Market Position

AMD (AMD):

• Strength: Competes in both CPUs (vs Intel) and GPUs (vs NVIDIA).
• CPUs: Ryzen EPYC gaining server share, strong in price-to-performance.
• GPUs: Radeon is competitive in mid-range but lags NVIDIA in high-end, AI/data center GPU share is small compared to NVIDIA.
• AI: New MI300 accelerators are AMDs entry into AI compute; starting to gain traction but far behind NVIDIAs CUDA ecosystem.

Intel (INTC):

• CPUs: Historically dominant in server PC, but AMD has eaten into share. Still largest CPU supplier overall.
• GPUs: Discrete GPU push (Arc) is tiny vs. NVIDIA/AMD.
• AI: Pivoting into Gaudi AI accelerators, but ecosystem adoption is early.
• Manufacturing: Investing heavily in foundry business (Intel Foundry Services), aiming to rival TSMC/Samsung long term.

NVIDIA (NVDA):

• Dominates discrete GPU market (80%+ share).
• AI/Data Center: Clear leader in AI accelerators (H100, B100), CUDA ecosystem is the industry standard.
• Software moat (CUDA, cuDNN, AI frameworks) keeps developers tied in.
• Gaming GPUs strong, but AI/data center now drives majority of revenue.

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???? 2. Stock Investment Perspective (as of 2025)

• NVIDIA (NVDA): Market cap leader, trades at high multiples because of AI growth. Risk: valuation is stretched, but AI demand keeps fueling upside.
• AMD (AMD): Balanced play between CPUs and GPUs. Valuation cheaper than NVIDIA, with upside if MI300 gains AI share. Risk: execution vs. giants.
• Intel (INTC): Trades cheap due to lagging execution. Upside if foundry business succeeds or if Gaudi AI chips gain adoption. Risk: execution delays.

Simplified View:

• NVIDIA = AI growth pure play, but expensive.
• AMD = Balanced CPU+GPU, AI optionality, mid-risk/mid-reward.
• Intel = Turnaround story, cheap, high risk.