Mizuho analyst Vijay Rakesh reiterated a Buy rating on Advanced Micro Devices, Inc (NASDAQ: AMD) with a price target of $140.
The analyst hosted Mark Papermaster, CTO & EVP at AMD, for a panel discussion at the Mizuho Software Conference 2023.
AMD could see tailwinds for AI infrastructure adoption with a potential commercial solid interest in open-source hardware provided by MI300A/ X.
As the AI TAM grows over time, different hardware architectures could all continue to see increased adoption and benefit, including CPU, GPU, and custom ASICs.
Rakesh believes CUDA and ROCm software containers co-existing as AMD implements HIP for data portability could resolve many data portability issues.
The analyst flagged increased focus on software with headcount up 5x to 5000 employees over the last few years. He believes Siena provides a low-power roadmap with 64 cores/70-100W envelope in telco/edge and hyperscale.
Rakesh sees AMD as well-positioned to capture market share with MI300X in 1H24E.
AMD continues to execute strongly on its roadmap with a ...