AMD Scores Street-High Target as OpenAI and Oracle AI Deals Bolster NVIDIA Alternative

Analysts point to contracted AI capacity as a catalyst, with execution on deployments and infrastructure determining the payoff.

Overview

HSBC set a Street-high $310 price target on AMD with a Buy rating, while Wedbush earlier raised its target to $270 and kept an Outperform rating.
AMD and OpenAI announced a 6‑gigawatt agreement spanning multiple generations of Instinct GPUs, with deployments expected to begin late next year.
Oracle Cloud Infrastructure will launch an AI supercluster with AMD Instinct MI450 GPUs, starting with 50,000 units in Q3 2026 and expanding in 2027 and beyond.
Macquarie Asset Management added AMD to its portfolio, citing the need for a strong second supplier to NVIDIA and highlighting AMD’s price/performance for AI inference.
Jim Cramer said discussion of AMD’s quantum work with IBM helped lift the shares 7.6% to a new high, adding to recent gains tied to major AI commitments.