How long will the strong artificial intelligence buildout last? The market appears optimistic, with AI chip leader Nvidia (NASDAQ: NVDA) trading at 34 times forward earnings estimates and challenger Advanced Micro Devices (NASDAQ: AMD) trading at 30 times.

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The following week, Reuters reported a victory over Intel to design a key chip for Sony 's PlayStation 6, and Citigroup reiterated AMD as a top AI pick. AMD also got a boost on the Fed's rate cut, gaining 4.5% on Sept. 19, along with a broader upswing in the market.

Advanced Micro Devices is estimated to be 21% undervalued based on current share price of US$173 Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Advanced Micro Devices,

Advanced Micro Devices ($AMD) has launched a new artificial intelligence chip that’s aimed squarely at helping the company compete against market

According to PC Gamer, “The AMD Ryzen 7 7800X3D is simply the best gaming CPU around right now. It’s certainly the best gaming chip that AMD has ever made, but it’s also capable of outperforming Intel’s top CPU when it comes to gaming frame rates and is doing so for a lot less cash.