Advanced Micro Devices (NASDAQ:AMD) hit a major milestone on Sept. 21, surpassing the $1 trillion market capitalization mark. AMD becomes the fourth chipmaker in the rarefied club, joining Nvidia, Broadcom, and Micron Technology. AMD shares have been on a huge run, jumping 187% so far this year and 23% in the last week as the semiconductor sector rebounds. And while the company has long toiled in Nvidia's formidable shadow, investors are finding plenty to like about the company and its role in the growth of artificial intelligence. Missed AI's "Act 1"? Act 2 Could Be 15x Bigger. Most investors think they missed the AI boat because they didn't buy Nvidia in 2005. But according to our analysts, we're only at the end of "Act 1"—the R&D phase.
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