Advanced Micro Devices, Inc. (NASDAQ:AMD) is a prominent player in the AI stock market. On October 10, TD Cowen reaffirmed its “Buy” rating and raised the price target to $270 per share, signaling optimism due to AMD’s collaboration with OpenAI. Their recent agreement allows OpenAI to invest billions in AMD’s hardware, potentially acquiring a 10% stake. Despite a significant 64% increase in AMD’s shares following the OpenAI deal, analysts suggest that the upcoming analyst day on November 11 may not act as a substantial catalyst. Joshua Buchalter highlights the partnership as validation of AMD’s role in the AI compute market, alongside NVIDIA. While the growth potential of AMD is acknowledged, some investors may find better opportunities in other AI stocks with lower risk. For insights on undervalued AI stocks, consider exploring free reports on trending investments. Stay updated on the AI stock landscape to maximize your investment potential.
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