AMD's Major AI Counterattack: The "Post-NVIDIA" Scenario Shaped by Helios, OpenAI Partnership, and Social Media Frenzy

1. The "Second Round" of the AI Supremacy Battle Has Begun

When it comes to the leading figures of the generative AI boom, NVIDIA has long been seen as the dominant force. However, as we enter 2025, AMD is seriously challenging this structure.

Since the beginning of the year, its stock price has risen by approximately 80%, showing top-class performance among AI-related stocks.aktiencheck.de
Expectations for it as the "second option for AI infrastructure" have quickly been factored in, and Wall Street's evaluation is rapidly changing.

On social media, too,

• "It's AMD that will prove AI infrastructure from here on is not just about 'CUDA.'"

• "Rather than being the 'second leading role' after NVIDIA, they are seriously aiming for the throne."

While positive posts like these stand out,

• "The stock price has already run enough. If performance doesn't catch up, there will be a backlash."

There are also many calm voices. It is a situation of "maximum expectation" where excitement and caution coexist.

2. Why Analysts Have Turned Bullish

The atmosphere around AMD changed significantly when the tone of analyst evaluations collectively turned bullish.

According to the article,

• Raymond James: Investment rating "Outperform," target price $377

• TD Cowen: Selected as one of the "Best Ideas" for 2026, target price raised to $290

• Wells Fargo: Maintains "Overweight" with a target price of $345

Reports pointing to around $300 have been gathered. The average target price of market consensus is about $279, indicating there is still room for upside from the current stock price of around $218.aktiencheck.de

On X (formerly Twitter), whenever such reports are released,

"Another target price hike has come. This time, it's not just 'expectations,' but actual projects and numbers are accompanying it."

Posts like this are spreading, strengthening the recognition among investors that it is a "key player in AI infrastructure."

3. "Helios" with HPE—Aiming for the Definitive AI Infrastructure

At the core of AMD's AI strategy is the new platform "Helios," developed in collaboration with Hewlett Packard Enterprise (HPE).aktiencheck.de

What is Helios?

• An open and integrated AI infrastructure platform

• A one-package solution of AMD's server CPUs "EPYC," GPUs "Instinct," networking technology "Pensando," and software stack "ROCm"

• Designed for a maximum computing performance of 2.9 ExaFLOPS (FP4 precision) per rack, combining next-generation GPU "Instinct MI455X" with future EPYC CPU "Venice"

It is characterized by a design entirely focused on AI training/inference.aktiencheck.de

HPE plans to globally launch server products integrating Helios from 2026, aiming to create an environment where "large enterprises and cloud providers can adopt the 'AMD full stack' as is."

Furthermore, it has been decided that the new supercomputer "Herder" for the high-performance computing center in Stuttgart, Germany, will also be built based on AMD, beginning to show presence in European HPC projects.aktiencheck.de

Engineers' Eyes Are on Fire on Social Media

After the announcement of Helios, the engineer community showed reactions like the following.

• "They've released everything from hardware to software in one go. It's like the 'AMD version' of NVIDIA's DGX."

• "If ROCm is being pushed this seriously, it will be easier to conduct 'experiments to move away from CUDA' even at the lab level."

On the other hand,

• "We can actually touch it only after 2026. I'll reserve judgment until benchmarks are released."

There are also many cautious voices. How field engineers evaluate investor expectations seems likely to influence the speed of future adoption.

4. OpenAI Contract and Rapid Expansion of Data Center Business

An indispensable part of discussing AMD's AI strategy is the large contract with OpenAI.

• A supply contract equivalent to a maximum of 6 gigawatts of GPU capacity

• In return, OpenAI receives warrants to acquire up to 160 million shares of AMD

This is an extremely long-term and strategic deal.aktiencheck.de

This contract is not just about "one customer," but rather incorporates OpenAI as a partner in building an ecosystem.
On social media,

• "It feels like another lane has been created in the NVIDIA + OpenAI relationship."

• "If ChatGPT starts using AMD GPUs behind the scenes, the FOMO (fear of missing out) among individual investors is likely to increase even more."

Comments like these are flying around.

The Speed of "AI Company" Transformation Shown by Financial Figures

In the latest third-quarter earnings, revenue increased by 35.6% year-on-year to $9.25 billion, exceeding market expectations.aktiencheck.de

• Data center division revenue was $4.3 billion

• Already accounting for 47% of total company revenue

indicating that AMD, once a company for PC and gaming semiconductors, is rapidly transforming into an "AI infrastructure company."aktiencheck.de

The management aims for an average annual growth rate of over 35% for total company revenue and over 60% for the data center division over the next 3-5 years.aktiencheck.de

Investor reactions to this bullish guidance are divided.

• Bullish: "If this growth scenario becomes a reality, the current stock price level is sufficiently undervalued."

• Cautious: "Conversely, if it doesn't grow this much, the valuation can't be justified."

In other words, it is viewed as a "high-risk, high-return" classic AI stock.

5. Can They Break CUDA's Stronghold—ROCm and Microsoft's Moves

One of the reasons NVIDIA is overwhelmingly strong in AI infrastructure is the lock-in effect of the software platform "CUDA," more than the GPU itself.
AMD is attempting to break into this with the "ROCm" ecosystem based on open source.

According to the article, Microsoft is developing a suite of tools to port code written for CUDA to ROCm, creating an environment where major cloud providers (hyperscalers) can more easily adopt AMD GPUs.aktiencheck.de

This is particularly significant for inference purposes. In the inference domain, where extreme performance is not as necessary as in training, cost and power consumption are more emphasized.

On social media,

• "There might be a division where AMD is for inference and NVIDIA is for training."

• "If more clouds support multi-vendor, the era of CUDA dominance will gradually end."

Discussions like these are arising.

On the other hand,

• "Even if tools are released, it takes time and people to actually port large-scale codebases. I don't think the power dynamics will change easily."

The candid opinions of field engineers are also seen, indicating the high technical hurdles.

6. Investors Facing Overvaluation

Of course, AMD also has weaknesses. One of them is the current valuation, which is said to be "too high."

• A forward-looking PER of about 34 times (NVIDIA is about 24 times)

• Over 100 times based on past performance (trailing)

• A market capitalization of about $355 billion

• Stock price hovering near the upper limit of the 52-week range ($76.48–$267.08)

Looking at the numbers alone, it's undeniable that "a lot is already priced in."aktiencheck.de

On X,

• "If you're buying the AI dream, go for AMD; if you want dividends with peace of mind, choose another stock. It's a choice that shows your personality."

• "Too many short-term players are flocking. Waiting for a dip is the right move, I think."

There are many cautious posts like these, and individual investors, in particular, seem to be torn between FOMO and caution.