Updated: November 29, 2025
Advanced Micro Devices Inc. (AMD) heads into the final month of 2025 with its stock consolidating near the mid‑$210s after a bruising, high‑volatility November – but with fundamentals and news flow that remain firmly centered on artificial intelligence, data‑center growth and a wave of fresh institutional interest.
As of Friday’s close on November 28, AMD shares finished just above $217 per share, with extended‑hours quotes hovering a touch below $218, keeping the stock more than 70% higher year to date despite a mid‑teens percentage pullback this month. TechStock²+2MarketBeat+2
Below is a rundown of all the key AMD stock news dated November 29, 2025, plus the broader context around earnings, AI partnerships and Wall Street expectations.
Key takeaways for AMD stock on November 29, 2025
- Price & performance: AMD trades around the mid‑$210s after sliding roughly 16–17% from early‑November highs above $259, its worst month since late 2022 – but still up over 70% in 2025. TechStock²
- AI momentum: AMD and partner Zyphra highlight a new large‑scale AI model, ZAYA1, trained entirely on AMD GPU infrastructure, showcasing the scalability of Instinct MI350‑class accelerators. [1]
- Analyst sentiment: New round‑up pieces emphasize that major banks like Bank of America and TD Cowen reiterate Buy ratings and high price targets, framing AMD as a top AI chip play heading into 2026. [2]
- Big‑money moves: Multiple new 13F disclosures show large institutions – including the New York State Common Retirement Fund and Schroder Investment Management Group – increasing stakes in AMD, even as one advisory firm trims its position. [3]
- Long‑term story: Under the surface, AMD is backing up its AI narrative with record Q3 2025 results, aggressive long‑term growth targets and a multi‑gigawatt AI partnership with OpenAI that could reshape its earnings profile. [4]
AMD stock price today: stabilising after a brutal but still bullish November
AMD’s share price has whipped around in November, but the closing snapshot going into the weekend is relatively calm:
- Friday, Nov. 28, 2025 close: about $217.4–$217.5 per share. TechStock²+1
- After‑hours quotes: just under $218 according to MarketBeat and other real‑time feeds. [5]
- Early‑November peak: above $259, leaving the stock roughly 16–17% below its recent high. TechStock²
- Year‑to‑date gain: still north of 70%, and roughly 180% above a 52‑week low near $76.50, according to data cited by TechStock². TechStock²
A TechStock² analysis published today characterises November as AMD’s worst month since late 2022 despite record quarterly revenue, with the pullback driven by profit‑taking, valuation worries and renewed concerns about competition in AI chips. TechStock²
In valuation terms, that same report notes that AMD still trades at well over 100× trailing earnings and around 11× sales, underscoring that a lot of growth is already priced into the shares. TechStock²
All the major AMD stock news dated November 29, 2025
1. Zyphra’s ZAYA1 model spotlights AMD GPUs in large‑scale AI
A widely circulated Insider Monkey note – also carried on Finviz – highlights AMD’s role in a milestone announced earlier this week by Zyphra, an AI startup building large multimodal models. [6]
Key points from that coverage:
- On November 24, AMD said Zyphra had achieved a significant milestone with ZAYA1, described as the first large‑scale Mixture‑of‑Experts (MoE) foundation model trained using an AMD GPU and networking platform from end to end. [7]
- ZAYA1’s performance is reported as competitive with or better than leading open models across reasoning, mathematics and coding benchmarks, demonstrating that AMD’s Instinct accelerators can handle demanding production‑scale AI workloads rather than just proofs of concept. [8]
- The article links this milestone directly to AMD’s AI roadmap, noting that the Instinct MI350 series is the fastest‑ramping product in the company’s history and sits at the heart of AMD’s goal to grow data‑center revenue at more than 60% per year over the next 3–5 years. [9]
Why it matters for the stock:
For investors wondering whether AMD’s AI push is more than slide‑ware, the Zyphra news is evidence that real customers are training frontier‑scale models on AMD hardware, not just Nvidia’s. It also reinforces AMD’s narrative that open‑source software (ROCm) plus competitive hardware can win substantial share in high‑end AI infrastructure. [10]
2. “What Analysts Think About AMD” – new roundup of Wall Street calls
Finviz and Insider Monkey also publish a fresh piece today titled “What Analysts Think About AMD”, summarising some of the latest brokerage commentary. [11]
Highlights:
- AMD is flagged as one of the “15 Best Performing AI Stocks Heading into 2026.” [12]
- Bank of America Securities reaffirmed a Buy rating and a $300 price target on November 25, citing confidence in AMD’s ability to monetise a rapidly growing AI market. [13]
- TD Cowen reiterated its Buy rating with a $290 target on November 17 after a call with AMD CFO Jean Hu and financial strategy VP Matt Ramsay, who emphasised that the company’s AI opportunity spans GPUs, CPUs and server‑side networking. [14]
- AMD management has outlined a “$1 trillion AI opportunity” that includes data‑center compute and networking (but only limited revenue from China due to export restrictions) and is targeting >60% revenue CAGR in data center and >35% revenue CAGR for the group over the next several years. [15]
- Citi’s Christopher Danely is quoted as describing AMD as the “most favored” name in the semiconductor group and “king of the hill” in terms of buying momentum. [16]
Separately, MarketBeat’s consensus data – updated with recent calls – shows AMD rated “Moderate Buy” based on 42 analyst ratings, with an average 12‑month target of about $278.5 (roughly 28% above Friday’s close). The current target range runs from about $140 to $380. [17]
At the same time, some more cautious voices have emerged: Seeking Alpha pieces in late November, including one titled “AMD: Time To Sell Before The Momentum Dies,” have downgraded the stock to Sell, citing stretched valuation and execution risk around AI revenue ramps. [18]
3. Big institutional investors increase their AMD stakes
A cluster of 13F‑based stories published today by MarketBeat highlight how large money managers have been repositioning around AMD:
- New York State Common Retirement Fund
- Increased its AMD holdings by 8.4% in Q2, adding 172,745 shares.
- Now owns about 2.24 million shares, worth roughly $317.7 million, equal to 0.14% of the company. [19]
- Schroder Investment Management Group
- Boosted its stake by 18.7%, acquiring an additional 372,421 shares.
- Schroder now holds roughly 2.37 million AMD shares, valued at about $335.8 million, or 0.15% of the company. [20]
- Northwest & Ethical Investments L.P.
- Opened a new AMD position in Q2, purchasing about 3,100 shares with an approximate value of $446,000. [21]
- Level Four Advisory Services LLC
- Went the other way, trimming its AMD holdings by 22.8% in Q2, selling 8,676 shares and ending the period with 29,439 shares valued around $4.18 million. [22]
While these filings reflect past quarters rather than real‑time trades, the overall picture they paint – especially the increases by large, long‑horizon investors like state pensions and global asset managers – suggests continued institutional confidence in AMD’s long‑term AI story.
4. Quant and AI‑driven tools still lean bullish on AMD
Beyond human analysts, a couple of machine‑driven services offer an additional snapshot of sentiment as of today:
- Danelfin, an AI‑powered stock analytics platform, assigns AMD an AI Score of 8/10, which it labels a Buy‑tilted rating. That score reflects a modeled probability of AMD outperforming the market over the next three months that is several percentage points higher than the average U.S. stock. [23]
- MarketBeat’s consensus again confirms a “Moderate Buy” classification, with an average price target almost $60 above the current share price. [24]
These systems are not guarantees – and Danelfin itself stresses that back‑tested AI scores are no substitute for research – but they underline that the balance of quantitative indicators remains positive despite November’s correction. [25]
5. Media recap: “AI boom, OpenAI deal and a brutal November”
Rounding out today’s coverage, TechStock² publishes a longform explainer titled “AMD Stock: AI Boom, OpenAI Deal and a Brutal November – What Investors Need to Know Now”, which pulls together many of the themes driving recent volatility. TechStock²
The piece emphasises that:
- AMD’s Q3 2025 was a record quarter with revenue of $9.25 billion, up 36% year over year, and non‑GAAP EPS of $1.20, beating analyst expectations. [26]
- Despite those fundamentals, AMD’s share price fell about 17% in November, the steepest monthly drop in roughly three years. TechStock²
- Concerns include customer concentration around the OpenAI mega‑deal, tougher competition from Nvidia’s latest GPUs, worries that hyperscalers may opt for in‑house or alternative chips, and a general derating of high‑multiple AI names as bond yields have bounced. TechStock²+2Nasdaq+2
The article’s verdict: AMD looks fundamentally stronger than ever, but the price has been running ahead of even aggressive growth assumptions, leaving the stock highly sensitive to any negative headlines.
Fundamentals behind the headlines: earnings, AI roadmap and the OpenAI mega‑deal
To understand why today’s news matters, it helps to look at the bigger picture AMD has been drawing since early November.
Record Q3 2025 results and Q4 guidance
On November 4, 2025, AMD reported record third‑quarter results: [27]
- Revenue: $9.25 billion (rounded), up 36% year over year.
- Non‑GAAP gross margin:54%.
- Non‑GAAP EPS:$1.20, up 30% from a year earlier.
- Data Center segment: $4.3 billion, up 22%, driven by 5th‑Gen EPYC CPUs and Instinct MI350 GPUs.
- Client & Gaming segment: $4.0 billion, up 73%, with record Ryzen CPU revenue and surging gaming GPU and semi‑custom sales.
For Q4 2025, AMD guided to approximately $9.6 billion in revenue, plus or minus $300 million, implying about 25% year‑over‑year growth at the midpoint and a further sequential increase, with non‑GAAP gross margin around 54.5% – a forecast that topped Wall Street estimates and is heavily tied to accelerating AI chip demand. [28]
Aggressive long‑term growth targets
At its Financial Analyst Day on November 11, AMD laid out a much more ambitious long‑term financial model: [29]
- >35% revenue CAGR at the company level over the next three to five years.
- >60% revenue CAGR for the data‑center business and >10% for Embedded, Client and Gaming combined.
- Non‑GAAP operating margin above 35% and non‑GAAP EPS exceeding $20 in the same timeframe.
- A goal of >50% server CPU revenue market share and >40% client revenue share, plus >70% revenue share in adaptive computing.
Those are very aggressive targets by any historical standard for a large semiconductor company, which is why some analysts – including those quoted by Reuters – have called them “aspirational” and highly dependent on AMD successfully scaling its AI infrastructure business. [30]
The OpenAI partnership: 6 gigawatts of GPUs and up to 10% equity
The single most disruptive development in AMD’s 2025 story is its multi‑year partnership with OpenAI, announced on October 6, 2025: [31]
- OpenAI plans to deploy up to 6 gigawatts (GW) of AMD Instinct GPUs over several years, beginning with a 1 GW deployment of MI450 GPUs in the second half of 2026.
- To align incentives, AMD has issued OpenAI a warrant for up to 160 million AMD shares at $0.01 per share, vesting in tranches as compute deployment scales from 1 GW to 6 GW and certain share‑price and operational milestones are met.
- If fully exercised, that warrant could give OpenAI around a 10% stake in AMD, according to multiple analyses. [32]
- Press coverage from outlets such as The Guardian and AP estimates the partnership could drive tens of billions of dollars in revenue for AMD and added roughly $80 billion to AMD’s market cap in the immediate aftermath of the announcement. [33]
For bulls, this deal is proof that AMD is now a core supplier to top‑tier AI labs, not just a distant follower of Nvidia. For bears, it introduces customer‑concentration risk (one giant buyer dominating AI revenue) and complex equity dilution dynamics due to the warrant structure. TechStock²+2IntuitionLabs+2
How today’s news fits into the bull vs. bear debate on AMD stock
The bull case, reinforced
Today’s Zyphra milestone and analyst round‑ups strengthen several key points for AMD bulls:
- Real AI workloads on AMD hardware: ZAYA1 adds to a growing list of large‑scale AI deployments running on Instinct GPUs, alongside deals with Oracle, Cohere, Zyphra, major cloud providers and upcoming government supercomputers like Lux and Discovery. [34]
- Strong institutional sponsorship: Increased positions by large, long‑term investors such as state pension funds and global asset managers suggest deep pockets are comfortable owning AMD even after a big run‑up. [35]
- Wall Street upside: Between MarketBeat’s average target around $278 and individual calls as high as the mid‑$300s, there is still considerable implied upside from current levels if AMD executes on its roadmap. [36]
- Structural AI tailwind: AMD is positioning itself not just as a GPU vendor, but as a full‑stack compute company – CPUs, GPUs, DPUs/NICs and open software – aimed at a data‑center and AI chip market that management and third‑party analysts see approaching $1 trillion by 2030. [37]
The bear case, still very much alive
On the other side, recent commentary – echoed in today’s media coverage – highlights several risks:
- Valuation remains rich: Even after November’s drop, AMD is still trading at lofty earnings and sales multiples, leaving little room for disappointment if AI uptake is slower or more fragmented than expected. TechStock²+1
- Execution risk on massive deals: Delivering 6 GW of GPUs to OpenAI, ramping MI350/MI450, and hitting 35–60% growth targets will require flawless execution across supply chain, R&D and software ecosystems. [38]
- Competition from Nvidia and custom silicon: Nvidia still dominates data‑center GPUs and is rolling out its Blackwell generation, while hyperscalers like Google, Amazon and Meta continue to invest in their own chips, potentially limiting AMD’s share gains. [39]
- Customer concentration and export risks: Heavy reliance on a handful of mega‑customers (OpenAI, Oracle and major clouds) and ongoing export controls to China on products like the Instinct MI308 add layers of geopolitical and regulatory uncertainty. [40]
What investors may want to watch next
Looking beyond today’s headlines, several upcoming milestones are likely to matter for AMD stock:
- Q4 2025 earnings and 2026 guidance – whether AMD can hit or beat its $9.6 billion revenue outlook and maintain strong gross margins will be a key test of the AI demand narrative. [41]
- New hyperscaler wins – additional large‑scale deployments (beyond OpenAI and Oracle) would help ease worries about over‑reliance on a few customers. [42]
- MI350/MI450 ramp details – clarity on volume shipments, benchmarks and software ecosystem maturity will shape perceptions of how competitive AMD really is versus Nvidia’s latest GPUs. [43]
- Further institutional flow data – future 13F filings will show whether today’s big‑money buyers continue to add into weakness or start taking profits if the rally resumes. [44]
Bottom line
On November 29, 2025, AMD stock sits at an awkward crossroads:
- Fundamentally, the company is delivering record revenue, accelerating gross margins and outsized growth in AI‑linked segments. [45]
- Strategically, the OpenAI partnership, Oracle supercluster and Zyphra’s ZAYA1 milestone suggest AMD has become a credible, large‑scale alternative to Nvidia in the AI compute race. [46]
- Financially, the stock is still priced for very high growth, which has made it vulnerable to the kind of sharp November correction we’ve just seen. TechStock²+1
For investors and traders alike, today’s news flow reinforces a simple message: AMD is no longer a niche challenger – it’s a central player in the global AI build‑out – but the market is already charging a premium for that role.
This article is for informational purposes only and does not constitute investment advice, a recommendation to buy or sell any security, or a substitute for your own research and judgment.
References
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