Advanced Micro Devices Inc

Nvidia delivered a strong quarter, beating Wall Street expectations and offering a stronger-than-expected outlook, but Seaport Research Partners senior analyst Jay Goldberg maintains a sell rating, arguing that the stock is unlikely to surprise investors given that the company is sold out. Goldberg, one of only a few analysts with a sell on Nvidia, notes that about 96% of analysts have a buy rating, and he positions his sell as an underperform, citing relative performance concerns. He points out that Nvidia has been the worst-performing stock in the SOX index over the past year and faces potential headwinds such as data center delays, tight supply chains, and increased competition from AMD, Google, and custom chips from Anthropic and OpenAI. While he acknowledges avenues for improvement, such as additional capacity or software revenue, he expects margin pressure ahead.

Nutanix reported fourth quarter and fiscal 2026 financial results, with annual recurring revenue growing 16% year-over-year to $2.55 billion and strong free cash flow generation. For the fourth quarter, revenue rose 16% to $757.1 million, GAAP operating income was $70.0 million, and non-GAAP operating income was $198.0 million, with free cash flow of $277.6 million. For the full fiscal year, revenue increased 12% to $2.85 billion, GAAP operating income was $274.0 million, non-GAAP operating income was $675.4 million, and free cash flow reached $840.7 million. The company added over 3,000 new customers during the year and signed new or enhanced agreements with AMD, Lenovo, NetApp, and NVIDIA. Looking ahead, Nutanix guides first quarter fiscal 2027 revenue between $755 million and $765 million, and fiscal 2027 revenue between $3.180 billion and $3.230 billion, with non-GAAP operating margin of 24% to 25% and free cash flow of $850 million to $950 million.

Core Scientific, Inc. (NASDAQ:CORZ) completed its acquisition of Polaris DS for roughly $444 million in cash on August 14, 2026, adding about 440 megawatts of grid-connected power capacity in Oklahoma as part of its push to expand its Muskogee campus to 1.5 gigawatts of gross power. CEO Adam Sullivan said the deal is "another example of how we are strategically expanding our power portfolio," noting the company has added more than 600 megawatts of leasable power through site acquisitions this year alone. Core Scientific is already contracted to deliver the next roughly 82 megawatts at Muskogee to a customer starting in the second half of 2027, and it signed a deal with AMD in July that gives AMD access to more than 500 megawatts of AI-ready data center capacity starting in 2027, expandable to 2.5 gigawatts, with AMD receiving market-priced warrants to purchase Core Scientific stock. However, the company is still repurposing former bitcoin-mining sites into AI hosting capacity, a shift that isn't fully complete, and it hasn't disclosed the financing terms behind its acquisition spree, including this latest $444 million deal. Competition for power and data center capacity has intensified sharply, with AMD, Nvidia, and other chipmakers signing similar megawatt-scale deals across multiple providers, meaning Core Scientific's newly acquired capacity might not stay rare or valuable for long. As of Q1 2026, 81 hedge funds held Core Scientific, up from 76, while Riot Platforms was held by 49 hedge funds, down from 55, and CleanSpark by 37, up from 32.

24/7 Wall St. has set a $629.60 price target on Advanced Micro Devices, implying 31.39% upside from the current $479.18, and rates the shares a buy with 90% confidence. The bullish outlook follows AMD's Q2 FY2026 revenue of $11.54 billion, up 50.11% year over year, with data center revenue surging 107% to $6.72 billion. CEO Lisa Su said customer pull for the Helios platform is tracking ahead of forecasts, with Anthropic committing to up to two gigawatts of MI450 GPUs, on top of gigawatt-scale deals with OpenAI and Meta. Management expects the AI accelerator market to reach approximately $1.4 trillion by 2030 and data center revenue to more than double in 2027. The bear case cites AMD's trailing P/E of 121 and forward P/E near 64, along with gaming revenue down 31% and export control risks, but the firm argues AMD's 56% gross margin justifies its premium over Intel's 35%.

Advanced Micro Devices and Intel have both raised billions for AI investment within the same week, but through contrasting strategies: AMD launched a four-part bond offering that could raise between $4 billion and $5 billion, while Intel raised $20 billion in an upsized stock offering. AMD's offering, which includes notes due in 2029, 2031, 2033, and 2036, was priced at spreads as tight as 70 basis points over Treasuries for the shortest tranche, reflecting strong investor demand. The company said it remains committed to maintaining its strong financial balance sheet, and it forecast third-quarter revenue above Wall Street estimates, with data center sales expected to more than double by 2027. Intel's offering, upsized from an initial $15 billion, was priced at $95 a share and is expected to raise $19.7 billion in net proceeds to fund capital expenditures tied to physical AI custom silicon and advanced packaging. Intel shares have surged over 165% in 2026 and quintupled over the past year, backed by the AI buildout and a 10% US government equity stake. AMD's debt strategy protects current shareholders but adds financial risk, while Intel's stock sale dilutes existing shareholders, and CFO David Zinsner has flagged a meaningful increase in spending expected in 2027, suggesting this may not be Intel's last capital call.

Moor Insights & Strategy founder Patrick Moorhead predicts Nvidia's AI data center market share could fall from 90% to roughly 70% over the next two years, as the market more than doubles annually. Moorhead identifies Google's TPU as the top taker of unit share, benefiting companies like Broadcom and Marvell, followed by Amazon's Trainium, which underpinned Anthropic's model development. He also expects AMD to gain unit share with its new scale-up architecture, which is more similar to Nvidia's than previous designs. Regarding Bloomberg's report that OpenAI's custom chips with Broadcom outperformed Nvidia's current lineup in testing, Moorhead says he is not surprised, noting the power and performance of non-GPU architectures, but he emphasizes that GPUs offer more flexibility and longevity, while custom designs require frequent updates and cost between 200 and 500 million dollars each. Despite these challenges, Moorhead believes Nvidia's revenue won't be significantly impacted because the market is growing so fast, and in the long term, it will remain primarily a GPU world with custom inference chips for those who roll their own software.

Dick's Sporting Goods shares plunged more than 27% after the retailer reported revenue of $5.59 billion, below the $5.65 billion expected by analysts polled by LSEG, citing a challenging footwear market. Dynatrace rose 3% after Morgan Stanley upgraded it to overweight, while Shift4 Payments gained nearly 4% on a Wells Fargo upgrade to overweight. Moderna rallied 13% after Wolfe Research upgraded it to peer perform, and Marvell Technology jumped 5% after Susquehanna and Rosenblatt raised price targets. Advanced Micro Devices gained 5% after Raymond James upgraded it to strong buy with a $641 price target, and Kura Oncology climbed almost 10% after its CEO disclosed buying 100,000 shares. Navitas Semiconductor rose 5% after announcing a $232.8 million deal to acquire Claros.

OPAQUE, the Confidential AI company, announced TRACE, an open, portable, hardware-enforced governance record for AI agents and other confidential workloads, developed in collaboration with AMD, Intel, Microsoft, and the Technology Innovation Institute. TRACE establishes a vendor-neutral format for proving what software ran, which policies governed execution, what data classifications were involved, and which tools were invoked, and it composes existing standards including RATS, EAT, SLSA, SCITT, SPIFFE, and EAR. The specification will be governed through the Linux Foundation, with CoSAI hosting the technical workstream, and is available today with reference implementations and documentation. OPAQUE first introduced TRACE at the Confidential Computing Summit in June 2026, and its reference library passed 135,000 PyPI downloads in its first ten weeks.

GEEKOM will return to IFA 2026 in Berlin this September, showcasing its latest advances in local AI alongside a new generation of high-performance laptops and Mini PCs. Leading the lineup is a distributed local AI solution built around four GEEKOM A9 Mega Mini PCs powered by the AMD Ryzen AI Max+ 395 processor and Radeon 8060S graphics, connected through USB4 to run DeepSeek V4 Flash locally without a traditional server rack or proprietary high-speed switch. The company will also debut the GeekBook X16 Pro thin-and-light laptop with AMD Ryzen AI 9 HX 470 and Radeon 890M graphics, the IT13 Mega Mini PC with Intel Core Ultra X7 358H and Intel Arc B390 graphics, and the A5 2027 Edition Mini PC with AMD Ryzen 7 7730U. A new A9 Mega configuration powered by the AMD Ryzen AI Max+ 388 and equipped with a Phison AI SSD can support 70-billion-parameter and larger AI models on a 64GB unified-memory platform. IFA 2026 runs September 4–8 in Berlin, where GEEKOM will exhibit at Hall 6.2, Stand 119.

Anjuna Security announced the availability of its Anjuna Seaglass platform on AMD Secure Virtualization, bringing confidential computing to on-premises data centers with one-click deployment. The platform now runs on AMD EPYC datacenter CPUs with Secure Nested Paging hardware, providing hardware-enforced memory encryption and isolation for containerized workloads without code changes. Enterprises in financial services, healthcare, and government can use the same policy model and attestation workflow across cloud and on-premises environments, with support for air-gapped deployments and compliance alignment with NIST AI RMF, DORA, HIPAA, and GDPR. Anjuna Seaglass on AMD SEV is available now.

Nvidia Corp. is facing increasing competition from rivals, startups, and its own biggest customers as the AI chip market is poised to cross $1 trillion in revenue. Amazon.com Inc. CEO Andy Jassy said in July that if Amazon's semiconductor operation were a standalone business, it would generate annual revenue of more than $25 billion, with sales growing by a percentage in the triple digits. Advanced Micro Devices Inc. saw its data center revenue more than double last quarter to $6.7 billion, while Broadcom Inc. expects to sell $56 billion of AI chips this year. Meanwhile, 150 companies are working on more than 200 different AI semiconductor designs, according to Jon Peddie Research, and AI labs like OpenAI and Anthropic are developing their own chips. Nvidia's earnings report on Wednesday is expected to show revenue nearly doubled last quarter to $92 billion, but some customers have been told that prices of servers containing its AI chips are going up more than 15%.

Hedge funds and mutual funds took sharply different approaches to individual AI stocks during the second quarter, according to Goldman Sachs. Hedge funds bought Microsoft and Amazon while mutual funds reduced positions in both, and hedge funds cut exposure to Alphabet, Meta Platforms, Nvidia, Broadcom, Lam Research, Marvell Technology, Cisco Systems, Hewlett Packard Enterprise and Applied Materials. Mutual funds bought Advanced Micro Devices, Micron Technology and Sandisk while hedge funds reduced exposure to those stocks. Goldman identified 12 AI infrastructure stocks purchased by both groups, including American Electric Power, Bloom Energy, CoreWeave, Flex, NiSource, Seagate Technology, Talen Energy and Xcel Energy. The analysis covers 991 hedge funds with $5.4 trillion of gross equity positions and 504 large-cap active mutual funds with $4.6 trillion in equity assets.

Advanced Micro Devices plans to invest more than $10 billion in Taiwan through 2029 to expand advanced chip packaging, chip substrates, and AI system manufacturing capacity across the island's semiconductor ecosystem. The investment will support partners including TSMC, ASE Technology, Siliconware Precision Industries, and Powertech Technology, and help scale production of next-generation products such as AMD's Helios AI racks. AMD's Data Center revenue grew 107% year-over-year to $6.7 billion in the second quarter, and management expects data center AI revenue to grow at a compound annual growth rate above 80% over the next three to five years. CEO Lisa Su is investing now to ensure AMD can manufacture enough hardware if rapidly growing AI demand translates into large-scale deployments.

Nvidia is reportedly testing versions of its next-generation Rubin Ultra GPU with significantly less high-bandwidth memory than originally promised, with some configurations as low as 192GB to 256GB versus the 1 terabyte Jensen Huang initially announced. The move comes amid a severe industry-wide memory shortage, though Nvidia still controls more than 95% of the data center GPU market and has struck a $500 billion partnership with SK Hynix's parent company to co-develop future memory technology. Rival AMD says it has already secured the HBM it needs through ties with Samsung Electronics, SK Hynix, and Micron Technology, and its Helios AI system ships to customers including Microsoft, Meta, OpenAI, and Oracle later this year. AMD's data center revenue grew 57% year over year as of Q1 2026 and now makes up the majority of its total revenue, but Helios reportedly costs $5 million to $5.5 million per system versus $3.5 million to $4 million for Nvidia's Vera Rubin. Nvidia was the most widely held chip stock among hedge funds in Q1 2026 with 275 holders, compared to 134 for AMD.

Riot Platforms struck a $9.1 billion, 20-year computing deal with Anthropic this week, leasing 191 megawatts of power at its Rockdale, Texas campus, with the potential to grow to $16.1 billion if extended twice by five years each. The deal follows Riot's earlier agreement with AMD, giving the site what Compass Point analyst Michael Donovan called a two-tenant campus carrying $9.8 billion of contracted data center revenue. Riot's second-quarter revenue beat expectations at $174.2 million versus the $154.3 million analysts modeled, and Donovan reiterated a buy rating with a $29 price target. CleanSpark signed its own 20-year, $6.6 billion triple-net lease at its Sandersville site with a high investment-grade tenant, though its fiscal third-quarter revenue fell 30.5% year over year to $138.0 million and it swung to a $239.8 million net loss. Both companies are shifting from bitcoin mining to renting power and data center space to AI firms, but neither has yet proven the model can fully replace mining as the core business.

Advanced Micro Devices has completed a multi-tranche debt offering of almost $5 billion to fund its push into AI and data center markets. The new capital is tied to partnerships with Microsoft and Cerebras, along with launches like Instinct Coder and potential work with Google on custom AI hardware. The bond deal arrives during a mixed stretch for AMD shares, which have pulled back about 4% over the last day and are slightly down over the past month, yet still show an 8.2% 90-day share price return and a 190.8% one-year total shareholder return. A leading narrative values the stock at $907.32 per share versus the latest close at $484.39, framing AMD as materially undervalued, though the current P/E of 122.2x is more than double the US semiconductor industry average of 50.9x.

Cerebras Systems reported second-quarter results that sent its stock down 16% over two sessions before a rebound, and the chipmaker now looks like a buy as inference demand soars. Revenue grew 74% to $180.1 million, while core sales more than doubled to $209.9 million, and core gross margin rose 940 basis points to 40.6%. Management guided third-quarter revenue to between $214 million and $216 million and raised full-year core revenue guidance to $880 million to $890 million. The company is teaming up with Advanced Micro Devices and has deals with OpenAI and Amazon Web Services, positioning it to capture a share of the AI inference market projected to reach $1.3 trillion by 2032.

Krungsri Asset Management is offering the Krungsri AI and Next Gen Software Fund, known as KF-AINEXT, and KF-AINEXT-FX, for sale from 19 to 25 August 2026. Both funds invest in the master fund, the Invesco AI and Next Gen Software ETF, which focuses on companies driving the development of AI and next-generation software across the entire AI value chain, from infrastructure such as semiconductors, networking systems, and cloud computing, to developers of AI platforms and models, as well as companies applying AI in various industries such as industrials and healthcare. Selected companies must derive at least 50% of revenue from theme-related businesses, and the fund selects the top 100 stocks by free-float market capitalisation, with quarterly portfolio rebalancing. The top five holdings include AMD at 8.80%, Micron Technology at 8.57%, Alphabet at 7.39%, Meta Platforms at 7.33%, and NVIDIA at 7.22%. The portfolio has an 82.06% allocation to the United States and a 52.33% weighting in semiconductors and semiconductor equipment. The master fund has delivered a one-year return of 111.51%, a three-year average annual return of 42.53%, and an average annual return since inception of 15.97% as of 30 June 2026. KF-AINEXT hedges foreign exchange risk at the fund manager's discretion, while KF-AINEXT-FX does not hedge foreign exchange risk. Both funds have a minimum initial investment of only 500 baht and carry a risk level of 6, indicating high risk.

Simply Wall St has raised its fair value estimate for Advanced Micro Devices to roughly US$612.80 from about US$487.90 as analysts rework AI growth expectations. Revenue growth is now modeled at roughly 49.26% compared with about 41.55% previously, while net profit margin is modeled at about 28.05% versus roughly 27.22%. The future P/E is now modeled at roughly 36.01x compared with about 38.29x previously, and the discount rate has moved from about 11.11% to around 11.24%. Recent price targets on AMD range from about US$450 up to US$1,250, with firms including Baird, UBS, Goldman Sachs, Cantor Fitzgerald, and Barclays raising targets into a band from about US$600 to US$1,250, while Morgan Stanley keeps an Equal Weight rating and JPMorgan maintains a Neutral stance. AMD is preparing a record investment grade bond sale of between US$4b and US$5b to support its push into AI and data center markets and has committed up to US$5b to Anthropic, and it agreed to acquire Toronto based AI chip startup Taalas to add custom AI inference silicon.

Wedbush says a reported collaboration between Advanced Micro Devices and Google on a future tensor processing unit could mark a meaningful shift in the semiconductor landscape. SemiAnalysis reported that Google may use AMD to help design its 10th-generation TPU, drawing on AMD's CPU expertise as well as its packaging and networking capabilities. Wedbush analyst Matt Bryson said it would be noteworthy if Google collaborated with AMD versus Broadcom, Marvell, or Intel, adding that the speculation highlights the growing importance of ASIC design and reusable IP blocks. AMD's data-center revenue surged 107% year over year to $6.7 billion in the second quarter, driven by EPYC CPUs and Instinct GPUs. A confirmed design role would show AMD can monetize CPU IP, advanced packaging, networking and ASIC expertise alongside its existing accelerator business, potentially opening another route into hyperscaler AI spending.

Anthropic is reportedly targeting a $2 trillion market capitalization for its initial public offering expected in September or October, which would surpass SpaceX's record-setting IPO that raised nearly $85.7 billion in June. Anthropic's revenue in the second quarter increased 14-fold from the prior-year period to $11.5 billion, and the company said in May it had achieved a $47 billion run rate, well above SpaceX's trailing-12-month revenue of $23.4 billion. The AI company, maker of the Claude large language model, has major deals with Amazon and Advanced Micro Devices and is in talks to buy start-up Decart. SpaceX, which merged with xAI earlier this year, debuted at $1.77 trillion and briefly crossed $2 trillion before falling back to around $1.9 trillion.

Advanced Micro Devices has launched Instinct Coder, a turnkey enterprise AI inference solution co-developed with Spectro Cloud and Supermicro. The platform targets hybrid and private AI deployments and is built around AMD's MI series accelerators. The partnership focuses on simplifying rollout of enterprise AI infrastructure for corporate IT teams. The launch signals AMD's move beyond selling accelerators into selling a full enterprise AI inference stack, supported by recent fixed income offerings of roughly US$4.7b across 2029, 2031, 2033 and 2036 maturities.

Advanced Micro Devices shares rose 1% in premarket trading Monday after the chipmaker detailed a $4.75 billion debt offering. AMD is issuing the debt across four maturities: $1.25 billion of 4.6% notes due 2029, $1.5 billion of 5% notes due 2031, $1 billion of 5.25% notes due 2033 and $1 billion of 5.5% notes due 2036. The company expects roughly $4.7 billion in net proceeds after expenses, which it said may be used for general corporate purposes including debt repayment. AMD held about $5.1 billion in cash and $8.0 billion in short-term investments as of June 27, against $3.25 billion of debt principal, and has disclosed investment commitments of up to $5 billion expected through fiscal 2028. Second-quarter revenue jumped 50% to a record $11.5 billion, with Data Center revenue more than doubling to $6.7 billion, and the company expects third-quarter revenue of roughly $13 billion.

Tiger Global Management, led by Chase Coleman, sold positions in Nvidia, Microsoft, and Alphabet to buy AMD, betting the chipmaker offers better risk/reward than incumbents priced for perfection. AMD's Data Center revenue hit $6.7 billion in Q2, up 107% year over year, now representing 58% of total revenue and powering a 140% year-to-date stock surge. The stock trades at $514.39 with a trailing P/E of 132 and forward P/E of 69, leaving no room for error, as a 7% earnings-day selloff following a Q2 beat already showed. AMD announced a strategic partnership with Anthropic to deploy up to 2 gigawatts of MI450 series GPUs in Helios, plus expanded Microsoft deployment of Helios on Azure, and Lisa Su told investors AMD now expects data center segment revenue to more than double year-over-year in 2027. Sell-side agrees: 41 of 51 analysts rate the stock Buy or Strong Buy, with a $612.84 target price.

Shares of AMD jumped 5.1% in afternoon trading after the company priced a $4.75 billion bond offering to fund its expansion into artificial intelligence and data center markets, according to Bloomberg. The debt deal, which represents the chipmaker's largest-ever U.S. dollar bond financing as noted by NAI 500, gives the company financial flexibility to manage funding arrangements, including $875 million in bonds maturing next month. This move follows the company's Advancing AI event, where management raised its projection for the total AI chips market to $1.4 trillion by 2030, according to TipRanks. The shares closed the day at $514.13, up 6.5% from the previous close.

Bank of America raised its 2030 server CPU market forecast to more than $210 billion from around $170 billion, citing stronger demand for AI compute and memory. Analyst Vivek Arya now expects the server CPU market to grow at a 36% compound annual rate, up from 30%, implying nearly 5x growth from the roughly $35 billion CY25 level. Advanced Micro Devices remains the bank's top CPU pick due to its dual leadership across frequency and core count. AMD reported Q2 FY2026 revenue of $11.54 billion, up 50.1% year-over-year, with Data Center revenue jumping 107% to $6.7 billion. The company guided Q3 FY2026 revenue to approximately $13 billion, plus or minus $300 million, representing 41% year-over-year growth at the midpoint.