Advanced Micro Devices, Inc.'s AI strategy and market momentum challenge Nvidia's dominance. Click for my updated look at how AMD is restoring investor confidence.

Dow Jones futures fell slightly after hours, along with S&P 500 futures and Nasdaq futures.Another big inflation report is due before the open, along with earnings from chip-gear giant ASMLASML as well as Goldman SachsGS.

Both the S&P 500 and Nasdaq Composite indexes are hovering around all-time highs. Unsurprisingly, a euphoric narrative surrounding all things touching artificial intelligence (AI) has helped fuel stock prices into the stratosphere.

Explore Advanced Micro Devices, Inc.'s AI-driven growth strategy, key Q2 drivers, and the path to a $1T valuation. Click for my AMD update and earnings preview.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the Trending AI Stocks on Wall Street. On July 10, Goldman Sachs analyst James Schneider initiated coverage on the stock with a “Neutral” rating and a price target of $140.

Key Points AMD stock is soaring following news that Nvidia will receive licensing approval to sell its H20 processors in China. Export approvals for Nvidia's H20 suggest that AMD's own AI processors for the Chinese market could receive the necessary licenses.

Tech led US stocks on Tuesday as a key consumer inflation print showed inflation accelerated in June, big banks kicked off earnings season, and Nvidia was set to receive a green light for trade with China from the Trump administration.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the 10 Best Semiconductor Stocks to Buy According to Reddit.