$Advanced Micro Devices(AMD)$ AMD is trying to compete on too many fronts where it doesn't have first mover advantage or the scale. Those belong to $NVIDIA Corp(NVDA)$ and $Intel(INTC)$ . Intel has (finally) conceded the AI training at scale to Nvidia and is focusing in areas it has strengths (the few it has left). AMD, on the other hand, is trying to bring the fight on multiple fronts with bigger and better funded opponents who are now lasered focused on their respective strengths.

I don't see the potential upside for AMD outweighing the risks. So unless there is some sort of breakthrough when it comes to their technology or businesses I would say it's risk to invest at these levels.

The downside risk is more easily relatable, especially when you consider that all this AI hype can disappear just as fast as it came to focus. As soon as companies realize it's not the second coming of the internet or even any semblance of what they hope it might be, it's luster and overinvestment should fade and fade quickly. Look no further than $Microsoft(MSFT)$ 's results to see that even the biggest proponents are trying to hide and obfuscate the AI ROI from investors. But who knows...