CNBC host Jim Cramer called Advanced Micro Devices Inc. (NASDAQ: AMD) a winner on Monday as its shares closed more than 13% higher after last week's sharp selloff of artificial intelligence stocks.

Data Centers Drive AMD

In a post on X, Cramer said AMD is "viewed as a winner," adding that the stock "IS a winner," but raised concerns about the company's data center buildout.

He warned that "a data center multi-year roadmap in this country is now suspect."

To support the broader AI infrastructure buildout, AMD has also entered into significant financial commitments, including $13.3 billion in future payments under data-center leases it expects to assign or sublease to commercial partners, $6.2 billion in cloud-compute capacity commitments and up to $8.5 billion in potential payments under guarantees for partners' lease and debt obligations.

Democrats' Midterm Win Clouds Data Center Buildout

However, AMD's data center expansion comes as Democrats, who won control of Congress in the midterms, include voices calling for limits on the AI buildout.

In Texas, Gov.-elect Gina Hinojosa and Sen.-elect James Talarico have raised concerns about data centers but said they are willing to work with tech companies.

Stocks sold off Thursday, with the Nasdaq 100 posting its biggest one-day drop since the 2020 pandemic and the S&P 500 losing about $3 trillion.

Meanwhile, U.S. data center construction spending rose 90% from a year earlier in September to a record annualized $96.5 billion, according to The Kobeissi Letter.

Counterpoint Sees AMD Gaining as Shares Rebound

Counterpoint Research said in a report last week that AMD's data center revenue could reach about $77 billion in 2027, more than 80% of total revenue.

Of 34 analysts covering AMD, 30 rate it Buy or Strong Buy and four rate it Hold, with an average price target of $616.89, about 20.8% above the stock's price, according to market data.

Even after a 16.37% slide over the past month, AMD shares are up 137.48% so far this year and 117.77% over the past 12 months.

Price Action: On Monday, shares closed 13.26% higher at $508.58 and fell 0.91% to $503.94 in overnight trading.

MarketDash Edge rankings indicate AMD's stock has a Momentum score in the 93rd percentile and a Growth score in the 87th percentile.