Sands Capital Management, LLC - Select Growth on Advanced Micro Devices
Thesis
AMD provides high-performance CPUs, GPUs, and adaptive computing and has emerged as a scaled alternative to incumbent providers. Demand for compute is rising as generative AI, inference, agentic applications, and cloud infrastructure require more processing capacity. Sands expects customers to seek supplier diversity, open standards, and cost-effective alternatives in AI infrastructure. Agentic AI may also require materially more CPU resources per GPU for orchestration and workflow management, creating an additional growth vector.
“We believe AMD is well positioned to benefit as customers seek greater supplier diversity, open standards, and cost-effective alternatives in AI infrastructure.”