Core Viewpoint - HSBC believes that AMD's newly launched MI350 series AI accelerators are now competitive with NVIDIA's Blackwell platform in terms of performance and pricing strategy [2][3] Group 1: AMD's Product Launch and Market Position - AMD's stock price increased by over 4% following HSBC's upgrade of its rating from "Hold" to "Buy" and doubling the target price to $200, which is nearly 40% above the current stock price [2] - The MI350 series allows AMD to "catch up" with NVIDIA, as it competes effectively with NVIDIA's current Blackwell AI platform [2] - The upcoming MI400 series is expected to provide greater growth potential in 2026 [2] Group 2: Financial Projections and Market Expectations - Analysts predict significant upside potential for AMD's AI revenue in fiscal year 2026, estimating AI GPU revenue to reach $15.1 billion, which is 57% higher than the market's average expectation of $9.6 billion [3] - The average selling price of the MI355 accelerator is projected to be $25,000, which is $10,000 higher than previous estimates, yet still about 30% lower than NVIDIA's products, contributing to the potential success of the MI350 series [3] - If growth expectations are met, AMD could achieve a higher valuation multiple, with a target price of $200 indicating nearly 40% upside from current levels [3]

2025.07. 10 本文字数：1276，阅读时长大约2分钟 作者 | 第一财经 樊志菁 周三美股交易时段，芯片巨头英伟达市值突破4万亿美元， 成为世界上第一家达到这一里程碑的上市 公司。其迅猛涨势得益于市场对其在人工智能领域领先地位的乐观预期，以及对其AI芯片需求激增的 期待。 自2023年以来，公司一路跨越了1万亿、2万亿和3万亿关口，如今有机构给出了对应6万亿美元的目 标价。 股价一路狂飙 英伟达周三上午盘中触及164.42美元的高点，收盘涨1.8%，报162.88美元。道琼斯市场数据显 示，只有股价达到或超过163.93美元，才能在收盘时让市值保持在4万亿美元上方。这已经足以让 英伟达创造历史，击败微软和苹果，率先达到这个重要里程碑。 回顾历史，苹果公司在2018年首次以1万亿美元的市值收盘，微软在2019年达到了这一水平。英伟 达直到2023年初刚跨越了万亿大关，这意味着公司在两年多一点的时间里总市值增长了近300%。 经历了年初低迷后，英伟达从4月份的低点反弹了约74%。彼时，全球市场受美国总统特朗普关税政 策的冲击。 随后，投资者对贸易伙伴与美国达成协议的乐观情绪最近提振了股市，纳指和标普50 ...