Shares of Advanced Micro Devices (AMD +1.30%) have been under pressure lately, and the company’s solid third-quarter results haven’t helped arrest the slide.

Specifically, AMD stock has lost 18% of its value over the past month. Concerns about a potential slowdown in the pace of the artificial intelligence (AI) infrastructure build-out have weighed heavily on tech stocks lately. This explains why the Nasdaq Composite plunged by a whopping 5.5% on Nov. 5. AMD lost over 11% of its value that day.

However, savvy investors shouldn’t miss the bigger picture. AMD’s latest results clearly indicate that the pace of the AI build-out isn’t slowing down. In fact, I won’t be surprised to see AMD emerge from its rut and surge impressively over the…