Nvidia Corp. (NASDAQ:NVDA) had a strong April, but Advanced Micro Devices Inc. (NASDAQ:AMD) had the kind of April that changed the conversation.
- NVDA stock is moving. See the chart and price action here.
NVDA Rallied, AMD Went Vertical
AMD surged 74.3% in April, steam rolling Nvidia's still-impressive 14.4% gain and delivering more than five times the return of the AI chip king, according to Benzinga Pro data.
The move reveals a shift in investor appetite: traders are not abandoning Nvidia, but they are aggressively repricing AMD as the catch-up trade in AI hardware.
The setup is simple. Nvidia remains the dominant force in AI accelerators, with unmatched scale, software lock-in and data center momentum.
But AMD is increasingly being viewed as the higher-beta alternative, especially as investors search for the next leg of the AI infrastructure boom.
AMD's rally also comes ahead of its first-quarter earnings report, scheduled for next Tuesday after the close, with management set to host a call at 5 p.m. ET.
The company previously guided for first-quarter revenue of about $9.8 billion, plus or minus $300 million, implying roughly 32% year-over-year growth at the midpoint.
Investors also have another catalyst on the calendar.
AMD announced its "Advancing AI 2026" event for July 23 in San Francisco, where the company said it will provide blueprints for building, deploying and scaling AI.
That does not mean Nvidia is suddenly broken. A 14.4% monthly gain would be a standout month for most mega-cap stocks.
But against AMD's 74.3% explosion, Nvidia looked pedestrian.
Bottom Line
The April scoreboard tells the story: Nvidia is still the AI leader, but investors chased AMD when they wanted upside, urgency and a fresh narrative.
AMD Vs. NVDA Price Action
In premarket trading on Friday, AMD stock was priced at $350.48, reflecting a 1.2% dip. Despite this, it was just 1.3% shy of its 52-week peak, showing strong resilience, according to Benzinga Pro data.
Looking back over six months, AMD surged by 36.5%, while NVDA experienced a slight decline of 3.5%. Over the past year, its growth has been staggering at 266.8%, far outpacing NVDA’s 78.8% increase.
Photo: Thrive Studios ID / Shutterstock
Login to comment