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In its second-quarter 2026 investor letter, American Century Investments Focused Dynamic Growth Fund highlighted Advanced Micro Devices, Inc. (NASDAQ:AMD) as a key contributor. Advanced Micro Devices, Inc. (NASDAQ:AMD) is a leading semiconductor company that designs and manufactures AI accelerators, microprocessors, and graphics processing units. On September 08, 2026, Advanced Micro Devices, Inc. (NASDAQ:AMD) closed at $505.74 per share, reflecting a market capitalization of $825.61 billion. Over the past month, Advanced Micro Devices, Inc. (NASDAQ:AMD) returned 7.72%, but its shares are up 226.08% over the past year.
American Century Investments Focused Dynamic Growth Fund stated the following regarding Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q2 2026 investor letter:
"Advanced Micro Devices, Inc. (NASDAQ:AMD). Not owning the chip designer detracted as shares advanced after the company issued stronger-than-expected guidance. The stock benefited from accelerating artificial intelligence and data center chip demand, with growth across both graphics processing units and CPUs."
Advanced Micro Devices, Inc. (NASDAQ:AMD) ranks 20 on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. As per our database, 164 hedge fund portfolios held Advanced Micro Devices, Inc. (NASDAQ:AMD) at the end of the second quarter which was 134 in the previous quarter. While we acknowledge the potential of Advanced Micro Devices, Inc. (NASDAQ:AMD) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.