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AMDAMD
MI300 and MI350 accelerators; the only credible GPU alternative buyers want to fund.
Plate I — Pillar-Purity Score
9/ 10
Only credible second-source GPU franchise.
Methodology — How we score
Plate II — The Thesis
Why it’s on the list.
AMD's MI-series accelerators are the only non-Nvidia GPU path buyers will commit capital to. The thesis is any material share gain — even 10% of training — repriced from a single-digit earnings multiple.
Plate III — Supply Chain
Upstream & downstream.
See the full chain plate for all 37 names.
Upstream — what feeds AMD
Plate IV — Thesis Breakers
What would invalidate this.
- Risk 01ROCm adoption stalls
- Risk 02MI350 slips in execution
Plate V — Also on the Silicon plate
Siblings by pillar.
- NVDAScore 10The king: GPUs, the CUDA moat, Mellanox networking, and the expanding software stack.
- TSMScore 10Fabs every leading-edge AI chip on earth — the real bottleneck of the entire stack.
- ASMLScore 10EUV lithography monopoly; no EUV means no sub-5nm chips.
- ALABScore 10PCIe retimers and CXL connectivity — the glue chips inside every AI rack.
- CRDOScore 10Active electrical cables and SerDes for AI-rack interconnect; pure-play AI networking IC.
Close
Next earnings: 2026-05-05.
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Research only. Not investment advice. Do your own diligence.