Advanced Micro Devices, Inc. (NASDAQ:AMD) and Fujitsu forge Partnership for AI and HPC Advances; Joint effort targets energy-efficient open source computing platforms by 2027

Additionally, a highly anticipated release that many have been waiting for appears to be delayed according to the latest reports. On Thursday, OpenAI CEO Sam Altman announced that his company's next big model likely won't be released this year. Altman said the company prioritizes shipping existing models that focus on reasoning and difficult questions.

“All of these models have become quite complex and we can't ship as many things in parallel as we would like.” He said the company faces “limitations and difficult decisions” when it comes to allocating computing resources “for a lot of great ideas.” . – Altman wrote during a Reddit AMA.

When asked about the release of ChatGPT-5, Altman replied that the company had some very good releases this year, but “nothing that we're going to call GPT-5.”

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For this article, we selected AI stocks by reviewing news articles, stock analysis and press releases. These stocks are also popular with hedge funds.

Why do we care about the stocks hedge funds invest in? The reason is simple: Our research shows that we can outperform the market by mimicking the top stock picks of the best hedge funds. Our quarterly newsletter strategy selects 14 small-cap and large-cap stocks each quarter and has returned 275% since May 2014, outperforming its benchmark by 150 percentage points (Further details can be found here).

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Number of hedge fund owners: 108

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a global semiconductor company that designs and develops computer processors and graphics technologies. By integrating technology across CPUs, GPUs and NPUs, the company strives to create a strong ecosystem that supports the development of powerful AI applications.

On November 1st^stAdvanced Micro Devices, Inc. (NASDAQ: AMD) announced that it has signed a memorandum of understanding (MOU) with Fujitsu Limited to enter into a strategic partnership to develop AI and high performance computing (HPC) computing platforms. The goal of the partnership is to facilitate the creation of open source and energy efficient platforms that include advanced processors with superior performance and highly flexible AI/HPC software. The aim is to accelerate open source AI and/or HPC initiatives. By combining Fujitsu's world-leading supercomputer-based advanced CPU technology with industry-leading AMD GPU technology, the companies aim to jointly develop innovative computing platforms for AI and HPC by 2027.

“By combining our state-of-the-art AMD Instinct accelerators with Fujitsu’s advanced low-power processors, we are able to deliver high-performance and energy-efficient solutions that will benefit our shared AI and HPC customers. Our strategic partnership with Fujitsu not only underlines our commitment to innovation, but also underscores our commitment to Japan, where we recognize the importance of local partnerships and expertise. As we continue to expand our relationships in Japan, we are excited about the opportunities to create a more sustainable computing infrastructure that aligns with Japan's technology leadership and commitment to sustainability.” -Phil Guido, Executive Vice President and Chief Commercial Officer, AMD.

AMD overall ranking 6 on our list of AI stocks that investors shouldn't miss. While we recognize AMD's potential as an investment, we believe some AI stocks have greater prospects of delivering higher returns, and within a shorter time frame. If you're looking for an AI stock that's more promising than AMD but trades at less than five times earnings, check out our Cheapest AI Stock report.

READ MORE: The 8 Best Wide Moat Stocks to Buy Now and the Top 30 AI Stocks According to BlackRock.

Disclosure: None. This article was originally published on Insider Monkey.