AMD Ventures has backed AI startup Turing Inc., which is adopting AMD AI accelerators for consumer and autonomous driving applications and shifting part of its AI workloads from Nvidia GPUs to AMD hardware. Reports of delays in Nvidia’s upcoming AI rack system are creating potential openings for AMD in data center deployments with cloud providers and hyperscalers. Advanced Micro Devices (NasdaqGS:AMD) recently closed at $534.39 and has logged a return of 139.1% year to date and 265.4% over the past year. The stock is trading 33.6% above Simply Wall St's estimated fair value, flagged as overvalued, and trades about 2.5% above the US$521.26 analyst consensus target. Recent momentum shows the stock up 4.5% over the past 30 days. The current P/E is 176.7 versus the Semiconductor industry average P/E of 65.1.