Jim Cramer Highlights Advanced Micro’s Quantum Work With IBM

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the stocks on Jim Cramer’s radar recently. Cramer highlighted the talk of the company’s quantum work. He commented:

“AMD, similarly, supply-constrained for much of its product line. CEO Lisa Su never abandoned traditional PCs in her zeal for, to be in GPUs. Smart thinking, that, plus talk of AMD’s quantum work with IBM on yesterday’s call, lifted the stock 7.6%, to a new high.”

Advanced Micro Devices, Inc. (NASDAQ:AMD) makes semiconductors such as CPUs, GPUs, and adaptive chips. The company’s brands include AMD Ryzen, Radeon, EPYC, Instinct, and Versal. During the October 6 episode, Cramer called the company’s CEO “one of the toughest execs in the business,” as he stated:

“Look, you either believe or you don’t believe. It is as simple as that. You either accept that OpenAI is going to pay for the billions of dollars of chips they just ordered from AMD, or you refuse to believe it, and you assume AMD will get stiffed because OpenAI doesn’t have the money or won’t need the chips. I prefer to accept the answer I got on Squawk on the Street this very morning from Lisa Su, the brilliant CEO of AMD. She’s not worried, and neither is Greg Brockman, the co-founder and president of OpenAI…

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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