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Better Artificial Intelligence (AI) Stock: Advanced Micro Devices vs. Micron Technology

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The demand for artificial intelligence (AI) chips has been increasing at a nice pace in the past few years. Major cloud service providers (CSPs), hyperscalers, and governments have been spending a lot of money on shoring up their cloud infrastructure so that they can run AI workloads.

This explains why the businesses of Advanced Micro Devices (AMD -0.45%) and Micron Technology (MU 0.26%) have gained terrific traction in recent quarters. As a result, shares of both these chip designers have clocked impressive gains in the past three months. AMD has jumped 32% during this period, and Micron stock is up 36%.

But if you had to put your money into just one of these AI semiconductor stocks right now, which one should it be? Let’s find out.

Image source: Getty Images.

The case for Advanced Micro Devices

AMD designs chips that go into personal computers (PCs), servers, and gaming consoles, and for other applications such as robotics, automotive, and industrial automation. AI has created impressive demand for the company’s chips in these areas, leading to healthy growth in its top and bottom lines.

The company’s revenue in the first quarter of 2025 was up by 36% from the year-ago period to $7.4 billion, while non-GAAP earnings per share shot up by 55% to $0.96. This solid growth was primarily driven by the data center and PC markets, which accounted for 81% of its top line. AMD’s data center revenue was up by 57% from the year-ago period, while the PC business reported a 68% increase.

In the data center business, AMD sells both central processing units (CPUs) and graphics processing units (GPUs) that are deployed in AI servers. The demand for both these products is strong, which is evident from the terrific growth the company recorded in Q1. Importantly, AMD estimates that the market for AI accelerator chips in data centers could create a $500 billion annual revenue opportunity in 2028.

So, the outstanding growth that AMD clocked in the data center business in Q1 seems sustainable, especially considering that it generated $12.6 billion in revenue from data center chip sales last year — nearly double the 2023 revenue. AMD is pushing the envelope on the product development front with new chips that are expected to pack in a serious performance upgrade and may even help it take market share away from Nvidia.

Meanwhile, AMD’s consistent market share gains in PC CPUs make it a solid bet on the secular growth of the AI PC market, which is expected to clock an annual growth rate of 42% in shipments through 2028. All this indicates that AMD is on track to take advantage of the growing adoption of AI chips in multiple applications, and that’s expected to lead to an acceleration in its bottom-line growth.

Consensus estimates are projecting a 17% jump in AMD’s earnings this year, followed by a bigger jump of 45% in 2026. As such, this semiconductor company is likely to remain a top AI stock in the future as well.

The case for Micron Technology

Micron Technology manufactures and sells memory chips that are used for both computing and storage purposes, and the likes of AMD and Nvidia are its customers. In fact, just like AMD, Micron’s memory chips are used in AI accelerators such as GPUs and custom processors, PCs, and the smartphone and automotive end markets.

Micron has been witnessing outstanding demand for a type of chip known as high-bandwidth memory (HBM), which is known for its ability to transmit huge amounts of data at high speeds. This is the reason why HBM is being deployed in AI accelerators, and the demand for this memory type is so strong that the likes of Micron have already sold out their capacity for this year.

Not surprisingly, Micron is ramping up its HBM production capacity, and it’s going to increase its capital expenditure to $14 billion in the current fiscal year from $8.1 billion in the previous one. The company’s focus on improving its HBM production capacity is a smart thing to do from a long-term perspective, as this market is expected to grow to $100 billion in annual revenue by 2030, compared to $35 billion this year.

Micron’s memory chips are used in PCs and smartphones as well. Apart from the growth in unit volumes that AI-enabled PCs and smartphones are expected to create going forward, the amount of memory going into these devices is also expected to increase. CEO Sanjay Mehrotra remarked on the company’s latest earnings conference call:

AI adoption remains a key driver of DRAM content growth for smartphones, and we expect more smartphone launches featuring 12 gigabytes or more compared to eight gigabytes of capacity in the average smartphone today.

Similarly, AI-enabled PCs are expected to sport at least 16GB of DRAM to run AI workloads, up by a third when compared to the average DRAM content in PCs last year. So, just like AMD, Micron is on its way to capitalizing on multiple AI-focused end markets. However, it is growing at a much faster pace than AMD because of the tight memory supply created by AI, which is leading to a nice increase in memory prices.

The favorable pricing environment is the reason why Micron’s adjusted earnings more than tripled in the previous quarter to $1.91 per share on the back of a 37% increase in its top line. Analysts are forecasting a 6x jump in Micron’s earnings in the current fiscal year, and they have raised their earnings expectations for the next couple of years as well.

MU EPS Estimates for Current Fiscal Year Chart

MU EPS Estimates for Current Fiscal Year data by YCharts.

So, Micron stock seems poised to sustain its impressive growth momentum, thanks to the AI-fueled demand for HBM.

The verdict

Both AMD and Micron are growing at solid rates, with the latter clocking a much faster pace thanks to the favorable demand-supply dynamics in the memory industry. What’s more, Micron is trading at a significantly cheaper valuation compared to AMD, despite its substantially stronger growth.

AMD PE Ratio Chart

AMD PE Ratio data by YCharts.

Investors looking for a mix of value and growth can pick Micron over AMD, considering the former’s attractive valuation and the phenomenal earnings growth that it can deliver. However, one can’t go wrong with AMD either. The company should be able to justify its valuation in the long run, considering its ability to clock stronger earnings growth.



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Regulatory Policy and Practice on AI’s Frontier

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Adaptive, expert-led regulation can unlock the promise of artificial intelligence.

Technological breakthroughs, historically, have played a distinctive role in accelerating economic growth, expanding opportunity, and enhancing standards of living. Technology enables us to get more out of the knowledge we have and prior scientific discoveries, in addition to generating new insights that enable new inventions. Technology is associated with new jobs, higher incomes, greater wealth, better health, educational improvements, time-saving devices, and many other concrete gains that improve people’s day-to-day lives. The benefits of technology, however, are not evenly distributed, even when an economy is more productive and growing overall. When technology is disruptive, costs and dislocations are shouldered by some more than others, and periods of transition can be difficult.

Theory and experience teach that innovative technology does not automatically improve people’s station and situation merely by virtue of its development. The way technology is deployed and the degree to which gains are shared—in other words, turning technology’s promise into reality without overlooking valid concerns—depends, in meaningful part, on the policy, regulatory, and ethical decisions we make as a society.

Today, these decisions are front and center for artificial intelligence (AI).

AI’s capabilities are remarkable, with profound implications spanning health care, agriculture, financial services, manufacturing, education, energy, and beyond. The latest research is demonstrably pushing AI’s frontier, advancing AI-based reasoning and AI’s performance of complex multistep tasks, and bringing us closer to artificial general intelligence (high-level intelligence and reasoning that allows AI systems to autonomously perform highly complex tasks at or beyond human capacity in many diverse instances and settings). Advanced AI systems, such as AI agents (AI systems that autonomously complete tasks toward identified objectives), are leading to fundamentally new opportunities and ways of doing things, which can unsettle the status quo, possibly leading to major transformations.

In our view, AI should be embraced while preparing for the change it brings. This includes recognizing that the pace and magnitude of AI breakthroughs are faster and more impactful than anticipated. A terrific indication of AI’s promise is the 2024 Nobel Prize in chemistry, winners of which used AI to “crack the code” of protein structures, “life’s ingenious chemical tools.” At the same time, as AI becomes widely used, guardrails, governance, and oversight should manage risks, safeguard values, and look out for those disadvantaged by disruption.

Government can help fuel the beneficial development and deployment of AI in the United States by shaping a regulatory environment conducive to AI that fosters the adoption of goods, services, practices, processes, and tools leveraging AI, in addition to encouraging AI research.

It starts with a pro-innovation policy agenda. Once the goal of promoting AI is set, the game plan to achieve it must be architected and implemented. Operationalizing policy into concrete progress can be difficult and more challenging when new technology raises novel questions infused with subtleties.

Regulatory agencies that determine specific regulatory requirements and enforce compliance play a significant part in adapting and administering regulatory regimes that encourage rather than stifle technology. Pragmatic regulation compatible with AI is instrumental so that regulation is workable as applied to AI-led innovation, further unlocking AI’s potential. Regulators should be willing to allow businesses flexibility to deploy AI-centered uses that challenge traditional approaches and conventions. That said, regulators’ critical mission of detecting and preventing harmful behavior should not be cast aside. Properly calibrated governance, guardrails, and oversight that prudently handle misuse and misconduct can support technological advancement and adoption over time.

Regulators can achieve core regulatory objectives, including, among other things, consumer protection, investor protection, and health and safety, without being anchored to specific regulatory requirements if the requirements—fashioned when agentic and other advanced AI was not contemplated—are inapt in the context of current and emerging AI.

We are not implying that vital governmental interests that are foundational to many regulatory regimes should be jettisoned. Rather, it is about how those interests are best achieved as technology changes, perhaps dramatically. It is about regulating in a way that allows AI to reach its promise and ensuring that essential safeguards are in place to protect persons from wrongdoing, abuses, and harms that could frustrate AI’s real-world potential by undercutting trust in—and acceptance of—AI. It is about fostering a regulatory environment that allows for constructive AI-human collaboration—including using AI agents to help monitor other AI agents while humans remain actively involved addressing nuances, responding to an AI agent’s unanticipated performance, engaging matters of greatest agentic AI uncertainty, and resolving tough calls that people can uniquely evaluate given all that human judgment embodies.

This takes modernizing regulation—in its design, its detail, its application, and its clarity—to work, very practically, in the context of AI by accommodating AI’s capabilities.

Accomplishing this type of regulatory modernity is not easy. It benefits from combining technological expertise with regulatory expertise. When integrated, these dual perspectives assist regulatory agencies in determining how best to update regulatory frameworks and specific regulatory requirements to accommodate expected and unexpected uses of advanced AI. Even when underpinning regulatory goals do not change, certain decades-old—or newer—regulations may not fit with today’s technology, let alone future technological breakthroughs. In addition, regulatory updates may be justified in light of regulators’ own use of AI to improve regulatory processes and practices, such as using AI agents to streamline permitting, licensing, registration, and other types of approvals.

Regulatory agencies are filled with people who bring to bear valuable experience, knowledge, and skill concerning agency-specific regulatory domains, such as financial services, antitrust, food, pharmaceuticals, agriculture, land use, energy, the environment, and consumer products. That should not change.

But the commissions, boards, departments, and other agencies that regulate so much of the economy and day-to-day life—the administrative state—should have more technological expertise in-house relevant to AI. AI’s capabilities are materially increasing at a rapid clip, so staying on top of what AI can do and how it does it—including understanding leading AI system architecture and imagining how AI might be deployed as it advances toward its frontier—is difficult. Without question, there are individuals across government with impressive technological chops, and regulators have made commendable strides keeping apprised of technological innovation. Indeed, certain parts of government are inherently technology-focused. Many regulatory agencies are not, however; but even at those agencies, in-depth understanding of AI is increasingly important.

Regulatory agencies should bring on board more individuals with technology backgrounds from the private sector, academia, research institutions, think tanks, and elsewhere—including computer scientists, physicists, software engineers, AI researchers, cryptographers, and the like.

For example, we envision a regulatory agency’s lawyers working closely with its AI engineers to ensure that regulatory requirements contemplate and factor in AI. Lawyers with specific regulatory knowledge can prompt large language models to measure a model’s interpretation of legal and regulatory obligations. Doing this systematically and with a large enough sample size requires close collaboration with AI engineers to automate the analysis and benchmark a model’s results. AI engineers could partner with an agency’s regulatory experts in discerning the technological capabilities of frontier AI systems to comport with identified regulatory objectives in order to craft regulatory requirements that account for and accommodate the use of AI in consequential contexts. AI could accelerate various regulatory functions that typically have taken considerable time for regulators to perform because they have demanded significant human involvement. To illustrate, regulators could use AI agents to assist the review of permitting, licensing, and registration applications that individuals and businesses must obtain before engaging in certain activities, closing certain transactions, or marketing and selling certain products. Regulatory agencies could augment humans by using AI systems to conduct an initial assessment of applications and other requests against regulatory requirements.

The more regulatory agencies have the knowledge and experience of technologists in-house, the more understanding regulatory agencies will gain of cutting-edge AI. When that enriched technological insight is combined with the breadth of subject-matter expertise agencies already possess, regulatory agencies will be well-positioned to modernize regulation that fosters innovation while preserving fundamental safeguards. Sophisticated technological know-how can help guide regulators’ decisions concerning how best to revise specific regulatory features so that they are workable with AI and conducive to technological progress. The technical elements of regulation should be informed by the technical elements of AI to ensure practicable alignment between regulation and AI, allowing AI innovation to flourish without incurring undue risks.

With more in-house technological expertise, we think regulatory agencies will grow increasingly comfortable making the regulatory changes needed to accommodate, if not accelerate, the development and adoption of advanced AI.

There is more to technological progress that propels economic growth than technological capability in and of itself. An administrative state that is responsive to the capabilities of AI—including those on AI’s expanding frontier—could make a big difference converting AI’s promise into reality, continuing the history of technological breakthroughs that have improved people’s lives for centuries.

Troy A. Paredes



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In the ever-changing artificial intelligence (AI) world, there is a place that is gaining an unrival..

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In the ever-changing artificial intelligence (AI) world, there is a place that is gaining an unrivaled status as an AI-based language-specific service. DeepL started in Germany in 2017 and now has 200,000 companies around the world as customers.

DeepL Chief Revenue Officer David Parry Jones, whom Mail Business recently met via video, is in charge of all customer management and support.

DeepL is focusing on securing customers by introducing a large number of services tailored to their needs, such as launching “Deep L for Enterprise,” a corporate product, and “Deep L Voice,” a voice translation solution, last year.

“We are focusing on translators, which are key products, and DeepL Voice is gaining popularity as it is installed in the Teams environment,” Pari-Jones CRO said. “We are also considering installing it on Zoom, a video conference platform.”

DeepL’s voice translation solution is currently integrated into Microsoft’s Teams. If participants in the meeting using Teams speak their own language, other participants can check subtitles that are translated in real-time. As the global video conference market accounts for nearly 90% of Zoom and MS Teams, if DeepL solutions are introduced through Zoom, the language barrier in video conferences will now disappear.

DeepL solutions are all focused on saving time and resources going into translation and delivering accurate results. “According to a study commissioned by Forrester Research last year, companies’ internal document translation time was reduced by 90% when using DeepL solutions,” Parry Jones CRO said, explaining that it is playing a role in breaking down language barriers and strengthening efficiency.

The Asian market, including Korea, a non-English speaking country, is considered a key market for DeepL. CEO Yarek Kutilovsky also visits Korea almost every year and meets with domestic customers.

“The Asia-Pacific region and Japan are behind DeepL’s rapid growth,” said CRO Pari-Jones. In translation services, the region accounts for 45% of sales, he said. “In particular, Japan is the second largest market, and Korea is closely following it.” He explains that Korea and Japan have similar levels of English proficiency, and there are many large corporations that are active in multiple countries, so there is a high demand for high-quality translations.

In Japan, Daiwa Securities is using DeepL solutions in the process of disclosing performance-related data to the world, and Fujifilm and NEC are also representative customers of DeepL. In Korea, Yanolja, Lotte Innovate, and Lightning Market are using DeepL.

DeepL currently only has branches in Japan among Asian countries, and the Korean branch is also considering establishing it, although the exact timing has not been set.

“DeepL continues to improve translation quality and invest at the same time for growth in Korea,” said CRO Pari-Jones. “We need a local team for growth.” We can’t promise you the exact schedule, but (the Korean branch) will be a natural development,” he said.

Meanwhile, as Generative AI services such as ChatGPT become more common, these services are also not the main function, but they also perform compliance levels of translation, threatening translators.

DeepL also sees them as competitors and competes. “DeepL is a translation company, so the difference is that it strives to provide accuracy or innovative language services,” Pari-Jones CRO said. “When comparing translation quality, the gap has narrowed slightly with ChatGPT.” We will continue to improve quality while testing regularly,” he said.

[Reporter Jeong Hojun]



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There is No Such Thing as Artificial Intelligence – Nathan Beacom

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One man tried to kill a cop with a butcher knife, because OpenAI killed his lover. A 29-year-old mother became violent toward her husband when he suggested that her relationship with ChatGPT was not real. A 41-year-old now-single mom split with her husband after he became consumed with chatbot communication, developing bizarre paranoia and conspiracy theories.

These stories, reported by the New York Times and Rolling Stone, represent the frightening, far end of the spectrum of chatbot-induced madness. How many people, we might wonder, are quietly losing their minds because they’ve turned to chatbots as a salve for loneliness or frustrated romantic desire?



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