Can AMD Narrow Hardware Gap With NVDA? This Analyst Sees Advancing AI 2026 Event As Key Catalyst

GF Securities expects AMD to narrow, and potentially surpass, Nvidia's AI hardware lead with its upcoming Instinct accelerators while unveiling Anthropic as a major new customer at its flagship event.

• GF Securities projects AMD's upcoming MI450X will narrow the hardware gap with Nvidia.
• AMD is widely expected to name Anthropic as its third gigawatt-level customer, with the deployment likely to exceed the scale of its prior deals with Meta Platforms and OpenAI.
• GF Securities raised its price target on AMD shares, reiterated a ‘Buy’ rating, and bumped full-year revenue estimates to $52.3 billion for 2026 and $82.2 billion for 2027.

Advanced Micro Devices Inc. (AMD) appears likely to narrow, and potentially overtake, rival Nvidia Corp. (NVDA) in artificial intelligence chips through upcoming product releases and expanded customer wins.

AMD's upcoming annual conference, Advancing AI 2026 which begins on July 22, is being looked at as a major stock catalyst, according to an investor note from GF Securities accessed by Seeking Alpha. 

The brokerage reiterated its ‘Buy’ rating on AMD and raised its price target to $640 from $511, a 27% upside from Monday’s closing price. Analyst Jeff Pu noted that AMD is projected to narrow the hardware gap with its MI450X accelerator and move ahead of Nvidia with its MI550X model, which features a four-die package structure and larger High Bandwidth Memory. 

“Rack-level scaling remains on track to ramp up in the fourth quarter of 2026, while AMD’s "Venice" server processors are expected to drive higher average selling prices into 2027,” Pu said in a note. 

Pu highlighted that the industry anticipates AMD unveiling Anthropic as its third gigawatt-level customer, with a deployment scale exceeding prior deals with Meta Platforms Inc. (META) and OpenAI. 

Consequently, GF Securities raised its full-year revenue estimates to $52.3 billion for 2026 and $82.2 billion for 2027. AMD reports second-quarter financial results on August 4, with consensus estimates at $1.61 adjusted EPS on $11.3 billion in revenue.

What To Expect At AMD Advancing AI 2026

The market updates precede AMD's annual gathering, Advancing AI 2026, taking place on July 22-23 in San Francisco. Led by CEO Dr. Lisa Su, the two-day event brings together developers, IT leaders, and researchers to explore advancements across AI infrastructure, architecture, and software development.

The agenda features over 100 sessions, an interactive expo floor, and keynotes. Enterprise decision-makers can expect sessions with leaders from Dell (DELL), Alphabet (GOOGL), Lenovo, Nutanix, Gartner, and TensorWave covering agentic AI deployment, datacenter power constraints, total cost of ownership, and network efficiency. 

AMD Stock: Retail View

Retail sentiment on Stocktwits was 'bullish,' while message volume remained 'normal.' 

Retail chatter around the stock jumped about 290% from the previous session, when AMD announced Microsoft Corp. (MSFT) as the latest customer for its first rack-scale system, Helios, which is designed to rival Nvidia's Grace Blackwell and Vera Rubin systems. 

One Stocktwits user highlighted expectations that AMD could announce a deal with Anthropic.

View this Stocktwits post

AMD stock has surged 156% year-to-date. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.<