AMD's MI450X Projected to Narrow Nvidia Gap; GF Securities Raises Price Target to $640 Ahead of July 22 Event

According to GF Securities analyst Jeff Pu, AMD's MI450X accelerator is projected to narrow the hardware gap with Nvidia, while the MI550X model featuring a four-die package structure could move ahead. GF Securities raised its price target on AMD to $640 from $511, a 27% upside, and reiterated a 'Buy' rating. The brokerage expects AMD's rack-level scaling to ramp up in Q4 2026, with Venice server processors driving higher average selling prices into 2027.

The projections precede AMD's Advancing AI 2026 conference on July 22-23 in San Francisco, which analysts view as a major stock catalyst. Industry expectations point to AMD unveiling Anthropic as its third gigawatt-level customer, with deployment scale exceeding prior deals with Meta Platforms and OpenAI. GF Securities raised its full-year revenue estimates to $52.3 billion for 2026 and $82.2 billion for 2027.