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4d ago

AMD Steps Up AI Chip Challenge With MI350 GPU Rollout and $10 Billion HUMAIN Deal

Wall Street is divided over AMD’s outlook as it launches MI350 GPUs, previews Helios rack prototypes.

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Overview

  • AMD struck a five-year, $10 billion agreement with Saudi Arabia’s HUMAIN to deploy 500 megawatts of AI compute capacity in AMD-based data centers.
  • The company unveiled its Instinct MI350 GPUs, previewed the Helios rack-scale system, and secured commitments from OpenAI, Meta Platforms, and Microsoft for its latest chips.
  • HSBC analyst Frank Lee upgraded AMD to Buy and set a $200 price target, citing stronger pricing power and momentum behind its AI GPU lineup.
  • Goldman Sachs’ James Schneider initiated coverage with a Neutral rating and a $140 target, noting over $350 billion in AI infrastructure CapEx and potential headwinds from ARM-based server CPUs.
  • AMD joined the UALink Consortium with Intel, Broadcom, and others to develop an open high-speed interconnect standard aimed at challenging Nvidia’s NVLink.