10 AI Stocks in Focus on Wall Street

4. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 113

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the 10 AI Stocks in Focus on Wall Street. On November 20, Raymond James assumed coverage on the stock with an “Outperform” rating and a price target of $337.00.

The firm believes AMD is a clear AI beneficiary supported by a potential $15B AI pipeline by 2026 and OpenAI deployments boosting GPU adoption and market share gains.

AMD is seen to be the best positioned to compete with Nvidia in the GPU market, with expectations for “continued momentum” in accelerators and AI rack systems.

“AMD is a leading vendor of CPUs, APUs, and GPUs in the consumer and data center markets and is actively developing new elements including platforms and software. Investor skepticism lingers, but shares have attracted a broader audience than in the past”

According to the analysts, fundamentals need to catch up, and they believe they will.

The recent wins from OpenAI and Humain for ~1GWcould be worth an estimated $15 billion by 2026, growing to over 2 gigawatts in 2027. AMD is also poised for sustained server and PC share gains, added the analysts.

Meanwhile, OpenAI deployments may act as an important endorsement, likely encouraging other model builders and hyperscalers to adopt AMD GPUs.

The firm models just 190K MI350 chips and 915K MI450 chips in FY27, with the company poised for continued server and PC share gains.

“The AI TAM is large enough to support multiple chip suppliers, and AMD will be among the participants. We establish a $337 price target.”

Advanced Micro Devices, Inc. (NASDAQ:AMD) develops and sells semiconductors, processors, and GPUs for data centers, gaming, AI, and embedded applications.