CNBC host Jim Cramer just gave Advanced Micro Devices Inc. (NASDAQ:AMD) one of the more colorful bull-case comparisons on Wall Street: Secretariat.

"Is AMD the Secretariat of this era???" Cramer wrote on X, invoking the legendary racehorse widely remembered as one of the most dominant competitors in American sports history. 

Secretariat won the 1973 Triple Crown and sealed that run with a historic Belmont Stakes performance, finishing 31 lengths ahead of the field. 

In market terms, Cramer is asking whether AMD is becoming the runaway winner of the current AI-driven chip cycle.

The comparison lands as AMD continues to draw attention for its role in AI infrastructure, where investors are watching whether the company can close the gap with Nvidia Corp. (NASDAQ:NVDA) and capture a larger share of demand for advanced processors. 

Cramer recently defended AMD after a downgrade, arguing that AI-driven demand could keep pushing the stock higher. 

AMD Pulls Away from the Pack

"Secretariat" is shorthand for winning by so much that the rest of the field looks irrelevant. That is the image Cramer is attaching to AMD: a company that may not simply be participating in the AI trade, but potentially accelerating into a leadership position.

For AMD bulls, the thesis centers on CEO Lisa Su's execution, the company's AI chip roadmap and Wall Street's appetite for alternatives in a market still dominated by Nvidia. 

If AMD can keep converting AI demand into revenue growth and stronger investor confidence, Cramer's Secretariat comparison suggests the stock may have more room to run.

Still, the metaphor also raises the bar. Secretariat did not just win; he made the race look over before it was finished. 

For AMD stock to live up to that standard, the company will need to prove that its AI opportunity is not just hype, but a durable growth story.

For now, Cramer is betting that AMD is not trailing the pack. He is asking whether it is starting to leave it behind.

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AMD Price Action: AMD stock was down 3.51% at $406.59 at the time of publication on Thursday, according to Benzinga Pro.

Over the past month, AMD has gained about 86.3% versus a 11.5% rise in the S&P 500 and is up roughly 86% year-to-date compared to the index’s 6.7% gain.

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