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AMD will report fiscal third-quarter results after Tuesday’s close, following major AI chip deals with OpenAI and Oracle. Last month, AMD agreed to supply OpenAI with up to 6 gigawatts of GPUs for its AI data centers, while OpenAI committed to buy about 160 million AMD shares, roughly 10% of the company.
Those developments have pushed AMD shares up 57% in the last month, 114% year-to-date and 83% over the past 12 months as of Tuesday.
Key Highlights
- AMD’s partnership with OpenAI for a 6-gigawatt GPU deployment is expected to bring in tens of billions in revenue, significantly boost earnings, and cement AMD as a key player in AI infrastructure.
- AMD’s data-center business is set to expand as MI350 GPUs ramp in H2 2025 and the next-gen MI400 series—targeted for 2026—promises up to a 10x performance boost for advanced AI models.
- In Q2 2025 AMD revenue rose 32% YoY to $7.7 billion, led by record EPYC and Ryzen sales. Strong execution boosted client average selling prices by 42% YoY as premium products and greater commercial uptake outpaced the broader PC market.
- Acquiring ZT Systems enhances AMD’s rack-scale design capabilities for AI, enabling more integrated solutions for large-scale deployments.
- The U.S. Department of Energy will partner with AMD on a $1 billion project to build two supercomputers. The system is aimed at accelerating research in nuclear power and fusion, drug development, and national security—represent a major federal investment in high-performance computing; Energy Secretary Wright said they will "supercharge" advances in those areas.
- AMD faces fierce competition from NVIDIA, which controls over 90% of the data-center GPU market and offers a more mature software ecosystem that creates adoption hurdles for AMD.
Analysts Expectation
- A Wells Fargo analyst reiterated an "overweight" rating on AMD (NASDAQ: AMD) and raised the price target to $300 from $275.
- UBS analysts reiterated a Buy on AMD with a $265 price target, noting upside risk for FQ3 and expecting results near the $9B high end of guidance. They see strength from both server and client CPUs—potentially lifting gross margins—and forecast data-center GPU revenue around $1.7B.
AMD Q3 2025 earnings after-market (4:15 pm ET) Tuesday November 04, 2025 
Technical Analysis Perspective
- AMD jumped about $62 in early October after the OpenAI deal.
- Since then, it has trended upward within a rising-channel, hitting an all-time high of $267.08 on Oct. 29.
- As of 11:00 a.m. et shares are trading just below the channel midline near $225.86.
- Base case: post-earnings pullback to test $239–$236 (channel support).
- Bull case: new rally toward $275–$277 after earnings.
Weekly Candlestick Chart
AMD Seasonality Chart:
Since 2006, AMD has seen November close with an 8.9% gain in 65% of years and December with a 2.6% gain in 42% of years.
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