According to a fresh analysis released by Cathie Wood‘s ARK Invest, internal research reveals that Advanced Micro Devices Inc. (AMD) chips “can already be more performant than Nvidia chips” per dollar on select workloads. ARK Invest’s Director of Research, AI & Cloud, Frank Downing, highlighted that AMD is running the same playbook it deployed against Intel, noting that after holding nearly zero server market share in 2017, AMD’s server CPU revenue share reached 46% by the first quarter of 2026. AMD is now launching Helios, a rack-scale solution arriving in the second half of this year, with customer commitments from OpenAI, Meta Platforms Inc., and Oracle Corp. ARK Invest forecasts that the total addressable market for AI systems will triple by 2030, reaching $1.5 trillion in annual sales. The top four hyperscalers alone are expected to spend over $700 billion in 2026. ARK concludes that AMD is primed for growth and expected to “capture a reasonable share of the future AI compute TAM.” AMD shares were up 155.29% year-to-date and closed 5.67% higher at $546.72 per share on Thursday.