Nauman khan
Wed, May 14, 2025, 6:26 AM 1 min read
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Advanced Micro Devices (NASDAQ:AMD) shares climbed about 2% in premarket trading Wednesday after the chipmaker forged a multi?year, $10 billion investment partnership with HUMAIN, a new AI venture in Saudi Arabia.
The premarket rally built on Tuesday's near 4% gain, when AMD shares responded positively to news of its growing AI partnerships. Early afternoon trading saw the stock continue to outperform peers amid investor optimism around its strategy.
Under the agreement, AMD will support the deployment of 500 megawatts of AI compute capacity across Saudi Arabia over the next five years. The project is set to create one of the region's largest publicly accessible AI platforms.
AMD CEO Lisa Su described the tie?up as a significant milestone for expanding global AI infrastructure. HUMAIN CEO Tareq Amin said the collaboration will democratize AI at the compute level, broadening access for innovators regardless of location.
HUMAIN has also been actively courting U.S. tech giants. Earlier Wednesday, it unveiled plans for more than $5 billion of compute investments with Amazon Web Services (AMZN), reinforcing its rapid push into the AI market.
Based on the one year price targets offered by 41 analysts, the average target price for Advanced Micro Devices Inc is $129.78 with a high estimate of $200.00 and a low estimate of $75.00. The average target implies a upside of +15.40% from the current price of $112.46.
Based on GuruFocus estimates, the estimated GF Value for Advanced Micro Devices Inc in one year is $162.26, suggesting a upside of +44.28% from the current price of $112.46
This article first appeared on GuruFocus.
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