Nvidia vs AMD: Only One Wins Your $1,000

Nvidia and AMD both reported strong quarters riding the AI wave, but their financials tell different stories. Nvidia posted $68.13 billion in Q4 revenue with 73% growth, a 75.2% gross margin, and $34.90 billion in free cash flow. AMD delivered $10.27 billion with broader diversification across CPUs, GPUs, and gaming. On fundamentals, Nvidia holds the stronger case with a 0.77 PEG ratio and dominant data center pricing power. AMD offers optionality through its OpenAI partnership and wider product mix, but a 123 trailing P/E and uncertain MI450 shipment timeline make it a riskier bet. Nvidia is already cashing AI checks at scale.