Can AMD (AMD) Win From the Shift Toward More CPU-Heavy AI Data Centers?

Guinness Global Innovators, an investment management company, recently released its Q2 2026 quarterly investor update for its "Guinness Global Innovators Fund". You can download the letter here . The Guinness Global Innovators Fund focuses on investing in global companies that benefit from innovation in technology, communication, globalization, and management strategies. In the second quarter of 2026, the Guinness Global Innovators Fund returned 13.8% in GBP, compared with 13.0% for the MSCI World Index and 13.1% for the IA Global sector average. Easing Middle East tensions, falling oil prices, and renewed enthusiasm for artificial intelligence helped reverse much of the caution seen earlier in the year, with investors rotating back toward growth stocks and AI infrastructure beneficiaries. The Fund benefited from its overweight position in the Information Technology sector, while its overweight position in Communication Services detracted. Avoiding weaker Utilities, Materials, and Energy also supported relative performance. Also, please check the Fund's top five holdings to see its best picks for 2026.

In its second-quarter 2026 investor letter, Guinness Global Innovators Fund highlighted Advanced Micro Devices, Inc. (NASDAQ: AMD ) as a new holding. Advanced Micro Devices, Inc. (NASDAQ:AMD) is a leading semiconductor company that designs and manufactures AI accelerators, microprocessors, and graphics processing units. On August 21, 2026, Advanced Micro Devices, Inc. (NASDAQ:AMD) closed at $473.25 per share, reflecting a market capitalization of $772.57 billion. Advanced Micro Devices, Inc. (NASDAQ:AMD) posted a one-month return of -4.38%, while its shares gained 189.70% over the past 52 weeks.

Guinness Global Innovators Fund stated the following regarding Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q2 2026 investor letter:

" Advanced Micro Devices, Inc. (NASDAQ:AMD) is a fabless semiconductor company focused on high-performance and AI computing. It designs and sells a broad portfolio of AI-optimised processors and networking chips, positioning itself as a full-stack solutions provider across cloud and AI infrastructure while maintaining strong competitive positioning in PC and gaming endmarkets. AMD has notably closed the performance gap with Nvidia in recent years, driven by targeted acquisitions and sustained software investment. The Helios platform, built on AMD's acquisition of systems integrator ZT Systems, is AMD's first rack-scale system unifying graphical processing units (GPUs), computer processing units (CPUs) and Pensando networking into a frontier AI infrastructure solution, and should be a material growth driver from 2027 onwards. AMD is also structurally advantaged by a shift in data centre computational architecture. Its EPYC server CPUs offer industryleading performance-per-dollar and have taken substantial share from Intel in enterprise and cloud deployments. The rapid build-out of AI infrastructure is driving demand for high core-density server CPUs to meet the orchestration requirements of agentic workloads, and the rise of AI agents could push the CPU-to-GPU deployment ratio toward parity, representing a four-times to eight-times increase from current levels. Beyond the data centre, AMD's edge AI and FPGA franchises represent underappreciated optionality, with meaningful exposure to inference at the edge as AI workloads migrate beyond centralised infrastructure." ( Click here to read the full text )