Truist Securities Reiterates Buy on AMD, $283 Price Target

Truist Securities analyst William Stein reiterated a Buy rating and $283.00 price target on AMD (NASDAQ: AMD).

“Echoing its 2025 deal with OpenAI, AMD announces new 6GW deal with META; AMD and Meta sign multi-year, multi-gen partnership.

This morning, AMD announced a strategic partnership with META to deploy up to 6 GWs of Instinct GPUs starting in 2H26.

The deal includes custom MI450 accelerators, aligned GPU/CPU/software roadmaps, and Helios rack-scale systems co-developed through the Open Compute Project (OCP).

The first GW deployment (which is committed) is set to begin in 2H26 and continue into 2027. AMD’s wins are not necessary losses for NVDA or AVGO.

Meta has been a well-known customer of NVDA, Broadcom, and AMD, for some time.

Considering the company’s robust capex level and growth, we do not believe spend with one supplier comes at the strict expense of another.

Applications, workloads, volumes, and models are evolving and growing. We believe Meta represents growth opportunities to all three major DC/AI infrastructure vendors – AMD, NVDA, and AVGO.”

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