F.L. Putnam Strategist Recommends Investing in This Global Chipmaker Instead of Nvidia Amid Rising AI Competition
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 09 2025
0mins
Source: CNBC
Investment Strategy: Ellen Hazen from F.L. Putnam Investment Management suggests that investors can benefit from the AI rally by focusing on Taiwan Semiconductor Manufacturing Company (TSMC), which has a strong position in the semiconductor market and is less vulnerable to debt financing issues.
Market Outlook: Hazen acknowledges the potential for a bubble in AI investments but believes it won't reach the scale of past tech bubbles, citing strong earnings growth as a stabilizing factor for tech valuations.
TSMC's Performance: TSMC has seen significant growth, with a 52% increase in stock value this year, driven by high demand for AI and high-performance computing, which accounted for 57% of its revenue in the third quarter.
Nvidia's Challenges: While Hazen remains optimistic about Nvidia, she expresses caution regarding its future sales in China, highlighting uncertainties about demand and the impact of geopolitical factors on its revenue growth.
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Analyst Views on AMD
Wall Street analysts forecast AMD stock price to fall
33 Analyst Rating
25 Buy
8 Hold
0 Sell
Strong Buy
Current: 512.480
Low
210.00
Averages
289.13
High
377.00
Current: 512.480
Low
210.00
Averages
289.13
High
377.00
About AMD
Advanced Micro Devices, Inc. is a global semiconductor company. The Company is focused on high-performance computing and artificial intelligence (AI). Its segments include Data Center, Client and Gaming, and Embedded. Data Center segment includes AI accelerators, microprocessors (CPUs) for servers, graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), and Adaptive system-on-Chip (SoC) products for data centers. Client and Gaming segment includes CPUs, APUs, chipsets for desktops and notebooks, discrete GPUs, and semi-custom SoC products and development services. Embedded segment includes embedded CPUs, APUs, FPGAs, system on modules (SOMs), and Adaptive SoC products. It markets and sells its products under the AMD trademark. Its products include AMD EPYC, AMD Ryzen, AMD Ryzen PRO, Virtex UltraScale+, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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