AMD (AMD.US) entered into a major 6GW chip deal with OpenAI, CLSA released a research report saying. If this transaction is successfully executed, it will provide a 21-48% upside to the broker's 2026-2027 revenue forecasts for AMD.

However, market discussions have shifted further ahead, focusing on the direct competition between NVIDIA GPU vs Google TPU, where AMD's position and right of speech are at risk of being marginalized, leading to a situation of high dependence on OpenAI orders. Unless new significant customer commitments emerge, it will be difficult to change the current situation in the short term.

CLSA expected that, at least until 2028, OpenAI will continue to contribute one-third or more of AMD's GPU revenue. Given that the current share price has fully reflected optimistic expectations, the broker kept rating at Hold for AMD, and elevated its target price from US$180 to US$230.
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AASTOCKS Financial News
Website: www.aastocks.com

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