Barclays Raises AMD (AMD) Price Target to $300, Citing OpenAI Partnership Upside

Core Insights - Barclays raised its price target for Advanced Micro Devices, Inc. (AMD) to $300 from $200, maintaining an Overweight rating, following AMD's partnership with OpenAI, which is expected to drive the stock higher [1] - The partnership includes a structured warrant agreement that activates at one-gigawatt intervals, with the final activation occurring when AMD's stock reaches $600 [1] Financial Projections - The deal is projected to add approximately $4.5 billion in revenue per quarter, an increase from the previously expected $3 billion by late 2026, and is anticipated to lift earnings per share by about $1.30 per quarter [2] - An estimated one gigawatt of new capacity is expected to be deployed starting in the second half of 2026, potentially contributing around $15 billion in revenue by 2027 if growth is sustained through 2030 [3] Company Overview - Advanced Micro Devices, Inc. (AMD) specializes in the development and sale of semiconductors, processors, and GPUs for various applications, including data centers, gaming, AI, and embedded systems [3]