We recently published a list of Top 10 AI Stocks to Watch Right Now. In this article, we are going to take a look at where Advanced Micro Devices (NASDAQ:AMD) stands against other top AI stocks to watch right now.

Tom Hancock, GMO U.S. quality ETF portfolio manager, said in a latest program on CNBC that the NASDAQ has become “risky” bet amid a lot of volatility.

“It’s become not really an index; it’s become a single bet. So it it’s a very risky thing to invest in. It’s not what I think you would want from a sort of diversified investor. It’s probably going to give you more volatile returns next year, and I’d a little bit worry that the AI rally has extended itself. So uh those may be uncomfortably volatile returns.”

Hancock said investors should also pay attention to some of the “old economy” stocks. He thinks AI stocks have become a “hype trade” and any “hiccup” in the economy could result in these stocks crashing. He also urged investors to look for stocks outside the US.

Hancock believes AI gains are now set to broaden out to smaller companies that have not received a lot of attention so far.

READ ALSO: 7 Best Stocks to Buy For Long-Term and 8 Cheap Jim Cramer Stocks to Invest In

For this article we picked 10 AI stocks currently trending based on latest news. With each stock we have mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

Number of Hedge Fund Investors: 107

In late October, while talking about AMD’s Q3 results on CNBC, Stacy Rasgon, Bernstein Research senior analyst, explained the key issues haunting the company. The analyst said that Advanced Micro Devices Inc (NASDAQ:AMD) product launches are behind Nvidia’s and the stock fell after its latest quarterly results because investors were more interested in AI numbers and guidance.

“You have to be a little careful with these sort of first-party benchmarks, but they believe that they will compete well versus a subset of Nvidia’s parts. But the issue is those parts that they’re competing at with Nvidia are already here, right? Whereas we’re waiting, you know, I don’t know, 6, 9, 12 months for the relevant A and B parts. By then, Nvidia will have their next-generation stuff. And if you sort of look on a timeline, the relative dates of introduction of competing parts, Nvidia’s still got their parts in the market at least a year in advance in many cases. Couple that with the other areas where Nvidia is strong around software and services, hardware and systems, and ecosystem—these are things that AMD is trying their best to construct, but it’s very difficult. So I don’t really see the moat around Nvidia’s parts flagging.