Advanced Micro Devices (AMD)’s new MI350 AI chip line serves as a healthy rival to Nvidia’s Blackwell processors, putting AMD stock in solid position. Advanced Micro Devices (AMD) is incredible after its recent presentation at Bank of America’s Global Technology Conference. The company’s CFO Jean Hu and investor head Matt Ramsay highlighted AMD’s strategic advances in high-performance computing and AI. Additionally, they look at the development that is becoming AMD’s high-profit generator, potentially bringing up to $5 billion.
In fact, AMD’s MI300 AI Accelerator has generated more than $5 billion in revenue since its launch several years ago. Accelerators were a stable revenue stream along with other AMD products. As a result, AMD stocks have grown by more than 100% over the past five years. The stocks haven’t been doing very well last year, but thanks to Nvidia’s advantage, it suggests that over time it could rival Nvidia’s Blackwell technology. If AMD continues to post solid revenues from the MI350 AI chip line, can AMD stocks climb as high as Nvidia over the past few years?
On Thursday, AMD launched its updated MI350 line of AI chips, detailing the line of the next-generation MI400 GPU as part of an ongoing AI event. The company has also announced AMD Developer Cloud. This allows developers to access the company’s AI processors through their cloud computing infrastructure. Each chip offers 28GB of HBM3E memory, exceeding 192GB of memory found on Nvidia’s Blackwell GPU. However, Nvidia pairs two Blackwell GPUs with the GB200 SuperChip. In other words, it actually comes with 384GB of memory. Each chip has advantages over the others. This means that both will be able to achieve continuous success as AI technology governs ongoing over the next few years.
AMD stocks have struggled over the past year, falling approximately 24% over the past 12 months. Nvidia’s shares rose more than 19% over the same period. Every year, AMD is up 0.2% off and Nvidia is up 7%. Both stocks suffered in April amid concerns over Trump’s tariffs. However, as it is now beginning to decline, AMD and NVDA were able to see the rebound over the coming months.
At the time of pressing, AMD stocks were trading at $117.50. It’s below the simple 200-day moving average in the middle of the 52-week range. CNN analysts are currently bullishing on stocks following the BOFA meeting, with AMD valuing the stock on 7/10. None of the 55 analysts have proposed selling AMD stocks, predicting a median of $125.10 and a high of $200 over the next 12 months.
