Wedbush Raises PT on Advanced Micro Devices (AMD) Stock

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the Most Promising AI Stocks to Buy Right Now. On October 15, analyst Matt Bryson from Wedbush lifted the price objective on the company’s stock from $190 to $270, while keeping an “Outperform” rating. The lift in price objective came after Advanced Micro Devices, Inc. (NASDAQ:AMD) announced 2 blockbuster deals with Oracle and OpenAI. The analyst believes that the company has clearly provided future certainty related to the GPU demand, announcing new agreements promising to significantly increase future GPU revenues.

Wedbush Raises PT on Advanced Micro Devices (AMD) Stock

The analyst made upward revisions to the forward estimates. For Q3 and Q4, Bryson lifted the forecasts marginally to reflect stronger-than-expected demand in PC and server compute, which mainly benefits Advanced Micro Devices, Inc. (NASDAQ:AMD). The analyst’s datacenter GPU projections for the period were largely unchanged. To give a brief background about deals, Oracle Cloud Infrastructure (OCI) would be a launch partner for the first publicly available AI supercluster that is powered by AMD Instinct™ MI450 Series GPUs, with an initial deployment of 50,000 GPUs beginning in calendar Q3 2026 and expanding in 2027 and beyond. Talking about the second deal, Advanced Micro Devices, Inc. (NASDAQ:AMD) and OpenAI announced a 6-gigawatt agreement to power OpenAI’s next-generation AI infrastructure throughout multiple generations of AMD Instinct GPUs.

Macquarie Asset Management, an investment management company, released its investor letter for Q3 2025. Here is what the fund said:

“Advanced Micro Devices, Inc. (NASDAQ:AMD), a US semiconductor company, was also added to the portfolio. The total addressable market for AI chips is vast and in need of a second supplier to complement NVIDIA. We believe AMD is now positioned to supply a competitive, and possibly superior, chip for inference on a price/performance basis. Additionally, its next-generation chip for AI training should be a viable option to supplement NVIDIA supply.”

While we acknowledge the potential of AMD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AMD and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.