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Barchart
Barchart
Anushka Dutta

AMD Stock Just Got a New Street-High Price Target. Should You Buy AMD Stock Now?

AMD OpenAI United States HSBC BofA Securities Oracle

Advanced Micro Devices (AMD) recently announced a huge deal with OpenAI, which could mean that the ChatGPT-maker gets a 10% stake in the chipmaker. Through this partnership, OpenAI would also deploy six gigawatts of AMD’s Instinct GPUs over several years. The deployments are set to start late next year. 

The bullish investor sentiments surrounding this partnership have led AMD stock to surge. Analysts at HSBC raised AMD’s price target from $185 to a Street-high $310, while keeping a “Buy” rating on the shares. HSBC projects huge revenue potential from the OpenAI deal of around $80 billion, which is more than 10 times the expected revenue from AMD’s artificial intelligence (AI) GPUs for 2025. 

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