Is Advanced Micro Devices (AMD) The Best Semiconductor Stock to Benefit from AI Bull Run Until 2030?

We recently published Top 9 AI and Non-Tech Stocks to Watch Amid Latest Earnings Season. Advanced Micro Devices Inc (NASDAQ:AMD) is one of the top AI and non-tech stocks.

Vivek Arya, semiconductor analyst at Bank of America, said in a recent interview with CNBC that the current bull market for AI semiconductor companies could go for a couple of more years or “perhaps even” until 2030.

“The reason is that most infrastructure cycles tend to last for a decade or more. We have seen this with 3G and 4G, and we have the 5G cycle that started. So these cycles can last for a decade or more. And if you look at when ChatGPT started, that was in late 22, so we are just basically in the first three years of what could be a decade-long cycle. Now it’s important to understand why this is happening, and I think why this is happening is that there is this virtuous kind of flywheel that we have where there’s infrastructure spending that is leading to the creation of intelligence, which is being monetized, which is then being fed right back into the deployment of more infrastructure, and I think semiconductors are absolutely in the middle of a lot of those very important building blocks.”

The analyst believes Advanced Micro Devices Inc (NASDAQ:AMD) is one of the top AI semiconductor companies positioned well to benefit from this bull cycle:

“I’m at Nvidia’s show here at GTC. Incredible presentation as is to be expected from their CEO, and I think he laid out a path to almost a half a trillion dollars of demand that they are seeing between calendar 25 and 26. I think what’s really important to understand is how leverable this technology is in so many areas of what people refer to as the real economy. This is industrial, this is healthcare, this is cybersecurity, this is defense, this is automation, this is automotive. So this is not just hyper performance computing in isolation. This actually has the potential to create productivity benefits in vast areas of the economy. So now I think it’s Nvidia, I think it’s Broadcom, it’s AMD. I think these are just exceptionally positioned companies in this environment.”

Macquarie Large Cap Growth Fund stated the following regarding Advanced Micro Devices, Inc. (NASDAQ:AMD) in its third quarter 2025 investor letter:

“Advanced Micro Devices, Inc. (NASDAQ:AMD), a US semiconductor company, was also added to the portfolio. The total addressable market for AI chips is vast and in need of a second supplier to complement NVIDIA. We believe AMD is now positioned to supply a competitive, and possibly superior, chip for inference on a price/performance basis. Additionally, its next-generation chip for AI training should be a viable option to supplement NVIDIA supply.”

While we acknowledge the potential of AMD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.