AMD Launches New, Cheaper AI Chips to Challenge Nvidia's Dominance and Drive Growth
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Nvidia dominates the AI chip market with 92% share, but AMD launched new lower-priced chips to compete.
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AMD aims for $3.5B in AI chip revenue in 2024, but could reach $5-8B.
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AMD's chips offer more memory at lower prices than Nvidia's.
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If AMD hits $5B in 2024 revenue, its stock could jump 20% higher.
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AMD trades at 12.3 x sales, so more AI chip sales could substantially boost its valuation.