Morgan Stanley analyst Joseph Moore raised the firm’s price target on AMD (AMD) to $246 from $168 and keeps an Equal Weight rating on the shares after OpenAI announced a 6GW agreement, worth over $100B, across multiple generations of AMD Instinct GPUs. The scale and scope of the Open AI commitment will be a boost to the MI450 ecosystem, says the analyst, who adds that AMD still needs to prove that they can deliver the best ROI over Nvidia (NVDA), which the firm says “remains the incumbent everywhere.”
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