Top Wedbush analyst Matt Bryson raised his price target on Advanced Micro Devices (AMD) to $270 from $190, while maintaining an Outperform rating. The new price target implies nearly 13% upside from current levels. The 5-star analyst said the higher target reflects greater confidence in AMD’s long-term GPU growth, driven by new AI partnerships that expand visibility into future demand. He added that the $270 target represents a “fair premium,” given the company’s improving outlook and stronger position in the data center market.
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It is worth noting that Bryson ranks 82 out of more than 10,000 analysts tracked by TipRanks. He has a success rate of 77%, with an average return per rating of 45.10% over a one-year timeframe.
Big Partnerships Boost AMD’s AI Traction
Bryson highlighted two major deals that have strengthened his view on AMD’s future. The first is AMD’s agreement with Oracle (ORCL) Cloud Infrastructure, which will start deploying 50,000 MI450 GPUs in the third quarter of 2026, with more growth expected in 2027.
This announcement came shortly after AMD revealed a large-scale partnership with OpenAI, which plans to use AMD chips to build six gigawatts of AI capacity.
Even assuming some overlap between the Oracle and OpenAI deployments, Bryson said the scale is far larger than before. He estimates that each gigawatt of AI capacity could be worth about $20 billion in AMD hardware sales, meaning the OpenAI deal alone could easily beat his earlier revenue forecasts for 2026 and 2027.
Analyst Raises Long-Term GPU and Earnings Forecasts
Bryson said he has raised his long-term estimates following these new deals. For 2025, he expects steady demand for PC and server chips, which should continue to support AMD’s growth. While his near-term data center GPU outlook is mostly unchanged, his forecasts for 2026 and 2027 are now much higher.
He now sees AI-related data center revenue reaching about $10 billion in 2026, and doubling to roughly $20 billion in 2027 as AMD ramps GPU shipments for OpenAI. Bryson also lifted his 2027 earnings per share forecast to $9, up from $5.81 in 2026, even after allowing for higher costs.
Is AMD Stock a Buy, Sell, or Hold?
Currently, Wall Street has a Strong Buy consensus rating on Advanced Micro Devices stock based on 30 Buys and 10 Holds. The average AMD stock price target of $248.83 indicates about 4.29% upside potential.
