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Heurist Finance

Stifel Raises AMD Price Target to $635 on Massive AI Infrastructure Demand and Supply Constraints

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Stifel Raises AMD Price Target to $635 on Massive AI Infrastructure Demand and Supply Constraints
  • Stifel increased its price target for Advanced Micro Devices to $635 from $450, maintaining a Buy rating based on the continued buildout of AI infrastructure.
  • The analyst identifies a supply-constrained market rather than a demand-constrained one, supported by AMD's 57% year-over-year Data Center revenue growth in Q1 2026.
  • Future revenue visibility is anchored by commitments from Meta and OpenAI for 6 gigawatts each of AMD Instinct GPU deployments.

Quotes

“AI infrastructure companies remain supply-constrained, not demand-constrained, and recent semiconductor softness looks like a valuation reset rather than a fundamental slowdown.”— Ruben Roy, Analyst at Stifel

Sources