AMD establishing itself as ‘next-best AI vendor,’ says BofA

After having attended the Advancing AI Event in San Jose where AMD (AMD) provided an update to its end-to-end AI infrastructure platform, BofA analyst Vivek Arya said “investor expectations might have been high,” but it highlights the company’s continued execution in its AI roadmap, customer and ecosystem proliferation, and software maturity. AMD also doubled down on its partnerships with Meta (META), Oracle (ORCL) and Microsoft (MSFT), as well as xAI, OpenAI, and Saudi Arabia’s Humain, though no new hyperscaler customer was officially announced, says the analyst, who thinks “there may be an engagement” with Amazon’s (AMZN) AWS given it was a key sponsor for the event, but adds that AWS often likes to announce its new instances and engagements at its own events. The firm, which sees AMD establishing itself as “the next-best AI vendor,” maintains a Buy rating and $130 price target on the shares.