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AMD's (AMD) upcoming Advancing AI 2026 event could provide multiple catalysts for the stock, including the announcement of a new large-scale AI customer and revealing a new rack-scale accelerator that could narrow the gap with Nvidia (NVDA), according to GF Securities.
"We expect Advancing AI to showcase a technology roadmap and continue to see AMD narrowing the hardware gap with MI450X and pulling ahead of Nvidia with MI550X," said GF Securities analyst Jeff Pu in a Tuesday investor note. "It is also widely anticipated that AMD will unveil its third GW-level customer, Anthropic (ANTHRO), where we expect the scale to exceed that of prior deals of Meta (META)/OpenAI (OPENAI). In addition, we view Venice as a strong CPU cycle supported by a robust supply chain build plan, driving higher ASPs into 2027."
AMD's Advancing AI 2026 event will take place Wednesday and Thursday in San Francisco, and the Lisa Su-led company will discuss advancements in AI infrastructure, architecture and development.
"Rack‑level ramp‑up remains one of the key focuses and appears on track for 4Q26," Pu noted. "We also expect more disclosure on MI450X and MI550X, with the latter ahead of Rubin Ultra in hardware due to a 4‑die package and larger HBM."
GF Securities increased its price target on AMD to $640 from $511 and reiterated its Buy rating ahead of the event. It upped its EPS estimates by 2% for 2026 and 11% for 2027. The investment firm also raised its full-year 2026 revenue estimate to $52.3B from $51.5B and 2027 to $82.2B from $79.1B.
AMD is slated to release its second quarter financial results on August 4. A consensus estimate calls for adjusted EPS of $1.61 on revenue of $11.3B. During the same quarter last year, AMD reported EPS of $0.48 and revenue of $7.7B.
