Which AI Stock Will Outperform in 2026: Nvidia or AMD?

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Key Points

AMD’s stock has increased by 82% in 2025, outperforming Nvidia’s 34% increase. AMD’s revenue for the first nine months of 2025 surged by nearly 35% to $24.4 billion, with a projected annual total of $34 billion, representing a 32% increase over 2024. In contrast, Nvidia’s revenue for the same period grew by 62% to $147.8 billion, with an expected annual total of $213 billion, marking a 63% year-on-year growth.

AMD anticipates future annual revenue growth exceeding 35% over the next three to five years, attributed to market share gains in the data center sector, particularly through partnerships with AI firms including OpenAI and Microsoft. Nvidia, while showing strong current growth, faces slowing revenue increases due to competitive pressures and a high revenue base.

Analysts project AMD could reach a revenue of $46 billion in 2026 if it maintains a growth rate of 35%, compared to Nvidia’s market cap increase expectations to $6.3 trillion, contingent upon its current premium pricing and revenue projections.

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