Advanced Micro Devices ( AMD - Free Report ) shares have declined more than 8% in the past month, underperforming the Zacks Electronics-Semiconductors industry's gain of 5.4% and the broader Zacks Computer & Technology sector's return of 5%. Its closest peer, chip behemoth NVIDIA ( NVDA - Free Report ), has gained 11% over the same time frame. Both AMD and NVDA have been the darlings of investors, driven by the massive proliferation of artificial intelligence (AI) that has created a strong demand for GPU chips required to power AI models. However, in the past few weeks, market sentiment has been shifting from AI chip providers given the challenging macroeconomic environment and rising uncertainty over the upcoming Presidential elections. These factors have been an overhang on the share prices of chip providers. AMD has been particularly affected, given its much smaller size and GPU market share compared to NVIDIA.