Overview
- TD Cowen reiterated a Buy with a $290 target, calling Helios a key catalyst and modeling AMD’s EPS to reach a >$10 run rate by Q4 2026 as the rack-scale system and MI450 launch.
- AMD management outlined long-term goals that include roughly 60% annual growth for its data center business and about 35% company-wide expansion.
- Coverage cites a reported multi‑gigawatt OpenAI partnership—described as six gigawatts over five years—alongside other hyperscaler deployments that could translate into double‑digit billions per gigawatt.
- Shares have surged 116% over the past nine months but recently pulled back, with Forbes flagging valuation, historical volatility, and macro sensitivity as reasons for caution.
- Risks include U.S. export restrictions that have affected China data center sales and entrenched competition from NVIDIA’s CUDA ecosystem, even as AMD’s ROCm software shows improving adoption.