AMD Stock Today (December 4, 2025): Price, AI Mega-Deals, Wall Street Targets and a 2030 Forecast

Advanced Micro Devices (NASDAQ: AMD) sits at the heart of the AI chip boom. Here’s what investors need to know about the stock today, from fresh news and deals to analyst forecasts out to 2030.

Published: December 4, 2025

AMD stock price snapshot on December 4, 2025

As of mid‑day trading on December 4, 2025, AMD stock trades around $217.60 per share, roughly 1% higher than yesterday’s close of $215.24. That price implies a market capitalization of about $354 billion, a price‑to‑earnings ratio near 108, and a 52‑week trading range of roughly $76.48 to $267.08. ^[1]

Trading volume today is below average, with about 28 million shares changing hands vs. a typical ~50 million session — a sign that the market is digesting recent news rather than reacting to a fresh shock. ^[2]

Performance-wise, AMD has been one of 2025’s standout AI names:

• The stock is up roughly 80–90% year to date, even after a sharp November pullback. TechStock²+1
• Shares hit an all‑time high near $267 in late October before sliding about 15–20% into November, as investors took profits across the AI‑chip trade. TechStock²

In short, AMD is no longer cheap. The stock trades at a premium multiple that assumes the company will successfully convert its AI momentum into rapid revenue and earnings growth over the next several years.

Fresh AI catalysts: Vultr supercluster, OpenAI mega‑deal and cloud partnerships

1. Vultr’s $1 billion AMD‑powered AI supercluster

This week’s biggest incremental catalyst for AMD is cloud infrastructure provider Vultr’s plan to build a massive AI supercluster powered entirely by AMD GPUs.

According to multiple reports and company statements:

• Vultr will invest more than $1 billion in a new AI cluster in Springfield, Ohio. ^[3]
• The facility will be 50 megawatts in size and deploy 24,000 AMD Instinct MI355X GPUs connected via Ethernet‑based fabric for high‑throughput AI workloads. ^[4]
• The cluster is expected to go online in early 2026, and Vultr aims to price its AI compute at roughly half the cost of hyperscaler cloud providers, positioning itself as a value alternative in the AI infrastructure market. ^[5]

Vultr and AMD describe the deployment as an expansion of an existing strategic collaboration, with Vultr already offering AMD Instinct MI325X and MI355X GPUs in other regions. ^[6]

For AMD shareholders, the significance is twofold:

1. Proof of commercial traction: A 24,000‑GPU order is substantial by any standard and helps validate AMD’s MI350‑class accelerators as a credible alternative to Nvidia hardware in large‑scale clusters.
2. Reinforcing price‑performance narrative: Vultr’s promise of “half‑price” AI compute leans on AMD’s pitch that MI355X can deliver better tokens‑per‑dollar than rival platforms — a claim AMD itself has highlighted in its Advancing AI 2025 event. ^[7]

2. The OpenAI partnership: 6 gigawatts of AMD GPUs

Even bigger than Vultr, but announced earlier this fall, is AMD’s multi‑year strategic partnership with OpenAI:

• OpenAI has agreed to deploy up to 6 gigawatts of AMD Instinct GPUs across multiple generations, starting with the MI450 series. ^[8]
• The first 1 gigawatt of MI450 capacity is slated to come online in the second half of 2026. ^[9]
• The deal is expected to generate “tens of billions of dollars” in annual revenue for AMD at full scale and gives OpenAI warrants to acquire up to 160 million AMD shares — roughly 10% of the company — if deployment and share‑price milestones are met. ^[10]

This is one of the largest AI hardware commitments ever signed. It doesn’t materially affect AMD’s 2025 numbers, but it underpins long‑term visibility for data center GPU revenue and cements AMD as a core compute partner for one of the world’s most important AI labs.

3. Oracle, cloud hyperscalers and the open AI ecosystem

OpenAI is not an isolated win. AMD has been steadily stacking up cloud and AI infrastructure partnerships:

• Oracle and AMD recently expanded their collaboration to deploy 50,000 AMD GPUs in an AI “supercluster” slated to start rolling out in 2026, as part of Oracle Cloud Infrastructure’s push into large‑scale AI. ^[11]
• At the Advancing AI 2025 event, AMD showcased an “open AI ecosystem,” highlighting deployments or commitments from Meta, OpenAI, xAI, Oracle, Microsoft and others using its Instinct accelerators and ROCm software. ^[12]
• Oracle has already announced plans for clusters of up to 131,072 MI355X GPUs, leveraging AMD’s rack‑scale designs. ^[13]

These deals support AMD’s narrative that, while Nvidia still dominates the AI‑GPU market, AMD is gaining real share in next‑generation buildouts, especially among customers that want open standards and lower total cost of ownership.

Product roadmap: MI350 today, MI400 and “Helios” tomorrow

Investors tracking AMD’s stock are, in effect, betting on its AI hardware and software roadmap.

Instinct MI350 and MI355X: AMD’s current AI workhorses

In June, AMD formally launched the Instinct MI350 series accelerators, including the MI350X and MI355X GPUs. The company says this new generation: ^[14]

• Delivers up to 4x more AI compute versus the prior generation and up to a 35x leap in inference performance.
• Packs 288 GB of HBM3E memory per GPU and up to 8 TB/s memory bandwidth, enabling very large language models to fit on fewer accelerators.
• Supports dense rack configurations of up to 64 GPUs (air‑cooled) or 128 GPUs (liquid‑cooled) per rack, enabling more than 1.3 exaFLOPS of mixed‑precision performance per rack.

AMD also claims that MI355X can deliver up to ~40% better tokens‑per‑dollar than competing solutions in certain LLM inference benchmarks — a key selling point for cost‑sensitive cloud providers like Vultr. ^[15]

MI400, “Helios” rack‑scale systems and beyond

Looking ahead:

• The Instinct MI400 series is expected to launch in 2026 with up to 432 GB of HBM4 memory, 19.6 TB/s bandwidth, and as much as 40 PFLOPS FP4 performance per GPU. ^[16]
• AMD’s “Helios” rack‑scale design, built around MI400 GPUs plus “Venice” EPYC CPUs and “Vulcano” NICs, aims to offer up to 10x higher performance on certain Mixture‑of‑Experts AI workloads compared with current‑generation MI355X systems. ^[17]

For stockholders, the roadmap matters because it feeds directly into AMD’s long‑term financial ambitions presented at Financial Analyst Day 2025:

• Targeting >35% compound annual revenue growth over the next 3–5 years.
• Expecting >60% revenue CAGR in data center and >80% AI revenue CAGR.
• Aiming for non‑GAAP EPS above $20 and non‑GAAP operating margin over 35%. ^[18]

These are very aggressive targets and a key input into bullish long‑term stock‑price models.

Q3 2025 earnings: record results and an upbeat Q4 outlook

AMD’s most recent quarter — Q3 2025 (reported November 4) — was objectively strong:

• Revenue: $9.25 billion, up about 36% year over year, a new company record. ^[19]
• Non‑GAAP EPS: $1.20, ahead of Wall Street expectations of roughly $1.16–$1.17. ^[20]
• Data Center revenue: $4.3 billion, +22% y/y, driven by EPYC CPUs and Instinct AI GPUs. ^[21]
• Client (PC) revenue: around $2.8 billion, +46% y/y, reflecting strong demand for AI‑enabled Ryzen PCs amid a broader PC rebound. ^[22]
• Gaming revenue: about $1.3 billion, up triple‑digits year over year, helped by Radeon RX 9000‑series GPUs and semi‑custom console chips. ^[23]

AMD’s Q3 gross margin came in around 52% on a GAAP basis and 54% on a non‑GAAP basis, reflecting a healthy mix of premium processors and accelerators. ^[24]

On guidance, AMD told investors it expects:

• Q4 2025 revenue of about $9.6 billion (± $0.3B), ahead of analyst consensus near $9.15 billion at the time of the report. ^[25]
• Adjusted gross margin of ~54%, stable with Q3. ^[26]

Despite the beat‑and‑raise quarter, AMD’s share price dipped right after earnings, as some traders locked in gains and worried about whether AI‑chip valuations have gotten ahead of fundamentals. ^[27]

Wall Street’s latest view: ratings, price targets and earnings forecasts

Consensus rating: still a “Buy” or “Moderate Buy”

Across major analyst aggregators:

• MarketBeat shows AMD with a “Moderate Buy” consensus based on 42 analyst ratings, with no Sell ratings, 11 Holds and 31 Buys/Strong Buys. ^[28]
• TipRanks similarly classifies AMD as a “Moderate Buy”, tallying 75 Buy vs. 23 Hold ratings and 0 Sells over the latest month. ^[29]

In other words, Wall Street is broadly bullish but conscious of valuation risks.

Price targets: upside, but estimates are spreading out

Different data providers report slightly different averages, but they all indicate double‑digit upside from around $218 per share:

• MarketBeat: average 12‑month target $278.54, implying about 28% upside; target range $140–$380. ^[30]
• TipRanks: average target $284.67, with a range around $200–$377, suggesting ~30% upside vs. recent prices. ^[31]
• StockAnalysis: slightly more conservative, with a 34‑analyst average target of $240.03, or about 10% upside, and a range of $120–$345. ^[32]

Recent target hikes underscore how fast sentiment has shifted:

• HSBC boosted its AMD target from $185 to $310 in October, maintaining a Buy rating. ^[33]
• Several firms — including Evercore ISI, Stifel, Roth Capital and others — have targets clustered in the $270–$345 range. ^[34]

Earnings and sales forecasts

Looking ahead to the next quarter:

• Next‑quarter EPS estimate: about $1.31, up from $1.20 in Q3, with a typical range of $1.25–$1.43. ^[35]
• Next‑quarter revenue estimate: around $9.62 billion (range $9.2–$9.8B), consistent with AMD’s own $9.6B ± $0.3B guidance. ^[36]

These forecasts imply continued double‑digit revenue growth and modest margin expansion as MI350 accelerators ramp and EPYC CPUs gain share in servers.

Institutional positioning

Recent 13F filings suggest that large institutions remain heavily involved:

• Vanguard holds roughly 155 million AMD shares, worth more than $21 billion, while other large asset managers like Geode, Amundi, Invesco and Norges Bank have also added or initiated major positions. ^[37]
• Overall, around 71% of AMD’s float is owned by institutions and hedge funds, indicating strong participation from professional investors. ^[38]

How competitive is AMD in GPUs and CPUs right now?

Even with all of these wins, Nvidia still dominates AI GPUs, and AMD investors ignore that at their peril.

A recent Jon Peddie Research report on the discrete GPU (add‑in‑board) market shows:

• Nvidia’s GPU share at about 92% in Q3 2025, down slightly from 94% in the prior quarter.
• AMD’s share at around 7%, up 0.8 percentage points quarter over quarter.
• Intel cracking 1% of the discrete GPU market for the first time. ^[39]

On the CPU side, AMD’s EPYC processors continue to gain share against Intel in servers, and Ryzen AI‑enabled PCs helped deliver record client‑segment revenue in both Q2 and Q3. ^[40]

The key takeaway: AMD is gaining ground, but from a much smaller baseline in AI GPUs, which explains why the upside is large but the execution risk is also high.

Long‑term projections: could AMD hit $700 per share by 2030?

A widely read analysis published today on Nasdaq by The Motley Fool attempts to translate AMD’s long‑term goals into a 2030 share‑price scenario: ^[41]

1. Starting point
   • AMD generated roughly $32 billion in trailing‑12‑month revenue.
2. Growth assumption
   • If AMD hits its own Analyst Day target of ~35% annual revenue growth over five years, revenue could reach ~$155 billion.
3. Margin and valuation assumptions
   • Assume a 25% net profit margin (below Nvidia’s current levels, but above AMD’s historical average).
   • Assume the stock trades at 30x earnings in 2030, reflecting a high‑growth but more mature AI leader.

Under that scenario, AMD could generate about $39 billion in annual profit, which at 30x earnings implies a market cap around $1.16 trillion and a share price above $700 — roughly 3x today’s level. ^[42]

Even the author stresses that this is not a prediction, but a scenario highly sensitive to:

• Whether AMD can sustain 35% revenue CAGR.
• How high margins can realistically climb in a fiercely competitive chip market.
• What valuation multiples the market is willing to pay for AI‑chip winners in 2030.

Still, it illustrates why so many growth investors are willing to pay a triple‑digit earnings multiple today: they’re underwriting a path where AMD becomes a trillion‑dollar‑plus AI and compute giant.

What today’s analyses are saying about AMD

A new Seeking Alpha deep‑dive published this morning titled “AMD: An AI Giant In The Making” captures the bull case that many institutional investors are leaning toward: ^[43]

• The author highlights record Q3 revenue, accelerating data center growth and the OpenAI deal as evidence that AMD is transitioning from a CPU/GPU challenger into a core AI compute platform.
• They note that AMD’s forward P/E (~54x on their numbers) is rich, but argue the recent pullback from October highs creates a more attractive entry point for investors with a long time horizon.
• The piece also emphasizes AMD’s diversified business (PCs, gaming, embedded, data center), which could help buffer any AI‑spending slowdown.

Meanwhile, other commentaries — including from Reuters, Investopedia and AI‑focused investment blogs — emphasize two realities: ^[44]

1. The AI boom is real and massive, with OpenAI, Oracle, cloud platforms and sovereign AI programs committing staggering sums to future compute infrastructure.
2. Valuation and cyclicality risks are high, and any pause or disappointment in AI spending, export‑control changes or competitive missteps could compress AMD’s multiples.

Key risks AMD investors are watching

Even bullish analysts are clear about the main risks:

1. Valuation risk
   • At more than 100x trailing earnings and ~50–60x forward earnings (depending on the estimate), AMD’s valuation leaves little room for execution errors or macro shocks. ^[45]
2. Dependence on AI capex cycles
   • The company’s growth outlook assumes continued hyper‑scale AI data center build‑outs. If AI spending slows, or if big customers like OpenAI and Microsoft delay deployments, AMD’s growth could undershoot current expectations. ^[46]
3. Competition from Nvidia, Intel and custom silicon
   • Nvidia remains the dominant AI GPU supplier and is also signed up for its own multi‑gigawatt deals with OpenAI and others.
   • Many large AI operators, including OpenAI itself, are pursuing custom chips with partners like Broadcom, which could limit the total market available to off‑the‑shelf GPUs over time. ^[47]
4. Regulatory and export controls
   • AMD’s Q2 results were hit by U.S. export restrictions on its MI308 GPUs to China, triggering about $800 million in inventory‑related charges, and the company still assumes no China revenue from certain Instinct products in its outlook. ^[48]
5. Execution across a broad product portfolio
   • AMD is simultaneously ramping MI350, preparing MI400/Helios, expanding EPYC, and pushing Ryzen/AI PCs and embedded solutions. Managing this breadth while scaling manufacturing and software (ROCm) is an execution challenge. ^[49]

Bottom line: What AMD stock looks like on December 4, 2025

Putting it all together:

• AMD today is a ~$350 billion semiconductor company trading around $218 per share, near the midpoint of its recent range but well below late‑October highs. ^[50]
• The company just delivered record Q3 results, guided Q4 revenue above expectations, and continues to post strong growth in both data center and client PCs. ^[51]
• New developments like the Vultr AI supercluster and the already‑announced OpenAI and Oracle deals reinforce the idea that AMD is now a central player in the global AI build‑out, not a niche alternative. ^[52]
• Wall Street remains broadly bullish, with average price targets in the $240–$285 range and forecasts that imply double‑digit upside over the next 12 months. ^[53]
• Long‑term scenarios — including ones that point to a potential $700+ share price by 2030 — rely heavily on AMD hitting its ambitious 35%+ revenue CAGR and high‑20s profit margins. Those are achievable only if AI demand remains strong and AMD’s roadmap continues to execute flawlessly. ^[54]

For investors, AMD in December 2025 is neither a stealth value play nor a speculative micro‑cap. It’s a high‑quality, widely‑owned growth stock whose future returns will hinge on whether the AI supercycle plays out as management and many analysts expect — and whether AMD can carve out a durable share of that opportunity from entrenched rivals.

Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice, investment recommendation or an offer to buy or sell any security. Always do your own research or consult a qualified financial advisor before making investment decisions.

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