AMD just landed a new price target from HSBC — double the previous estimate — as confidence builds around its AI chip momentum.

AMD stock price surged over 4% after HSBC upgraded it to ‘Buy’ and raised the target price to $200, signaling nearly 40% upside. HSBC is now bullish on AMD’s MI300X and MI350 AI chips, which are gaining ground against NVIDIA’s GPUs.

Shares of Advanced Micro Devices Inc. (NASDAQ:AMD) are trading higher Thursday afternoon after HSBC upgraded the stock from Hold to Buy and set a $200 price target.

Nvidia is the dominant player in AI infrastructure, but its size could limit some of its upside. AMD and Broadcom, meanwhile, have huge opportunities. Given their smaller sizes, the stocks have the potential to outperform Nvidia in the coming years.

HSBC analysts upgraded their rating on AMD, noting that its latest series of chips can compete with Nvidia’s Blackwell GPUs.

HSBC analyst Frank Lee just upgraded Advanced Micro Devices (AMD) from “Hold” to “Buy,” doubling its price target from $100 to $200 per share, implying a 44.5% upside from the stock’s closing price of $138.44. This bullish call reflects AMD’s growing traction in the AI market, where it is positioning itself as a viable alternative to Nvidia.

Shares of Advanced Micro Devices, Inc. (NASDAQ: AMD) are moving higher Tuesday amid a complex mix of news involving potential U.S. export controls and newly announced tariffs on key Asian trading partners.

Advanced Micro Devices (AMD) shares jumped Thursday after analysts suggested the company’s latest AI chips could compete with Nvidia's offerings. Watch these crucial chart levels.

Nvidia briefly reached a market capitalization of $4 trillion on Wednesday, making it the first company in the world to reach the milestone and solidifying its position as one of Wall Street's most-favored stocks.

AMD is significantly expanding its footprint in India, with plans to increase its employee base to over 10,000 within the next two to three years. This move reflects the company's confidence in the country's engineering talent and its supportive environment for semiconductor and artificial intelligence (AI) development.