Nvidia and AMD Lead the AI Market. 1 Chip Stock Has Far Greater Upside.

AMD (AMD) has surged 200% in 2026, dwarfing NVDA's 30% gain, but the source article argues NVDA still offers the greater upside from here.

The case against chasing AMD centers on valuation. AMD's forward P/E ratio has surged alongside the stock, leaving the multiple stretched after a move of that size. Interpretation: a 200% run compresses the margin for error, since the price now embeds a lot of expected execution.

Fundamentals tilt toward NVDA as well. AMD's data center business is growing 107%, a strong figure, yet it trails NVDA's 117% data center growth. NVDA is growing faster off a larger base while trading at a less stretched multiple, which is the core of the relative-value argument.

The forward catalyst is NVDA's Vera Rubin chip architecture. The article projects 70% revenue growth for NVDA in 2027, a notable forecast for the world's largest company. META (META) appears in the sector context but is not part of the argument.