AMD, which designs chips used in PCs, data centers and gaming consoles Xbox and PlayStation, has seen its stock rise about 21% this year, as analysts expect the firm and its peer Nvidia Corp to power the technology behind AI chatbots such as ChatGPT. The chip firm's market value, at roughly $125 billion, has pulled ahead of key rival Intel Corp, as its strategy to outsource chipmaking to contract manufacturers such as TSMC helped it gain a technological lead. Intel, which designs and makes its own chips, stumbled in its efforts to create technological advantages and has been playing catch up with rivals, who are gnawing away at its market share.