AMD, AI 성장으로 2027년 연간 매출 수조 달러 전망
Missed Nvidia? AMD Could Be Your Second Chance to Earn Massive AI Gains
AMD의 AI 관련 수익 성장세와 MI350 시리즈 채택 확대 가능성으로 인해 주가 상승세가 지속될 전망입니다.
핵심 요약
AMD는 연초 대비 33% 상승한 주가로 2025년 매출 346억 달러를 기록하며 AI 사업 확장 중입니다.
핵심요약
- 2025년 매출 346억 달러, 전년 대비 34% 증가
- 데이터센터 부문 매출 54억 달러, 39% 증가
- 2027년까지 AI 사업 연간 매출 수조 달러 전망
- MI350 시리즈 칩과 ROCm 소프트웨어 생태계 확장으로 AI 시장 공략
도입
AMD는 NVIDIA에 이어 AI 성장 주자로 부상하고 있습니다. 투자자에게 중요한 이유는 AMD가 AI 인프라 확장을 통해 NVIDIA의 성장 모델을 재현할 가능성을 보이고 있기 때문입니다. 특히 데이터센터 부문의 급성장이 주목받고 있습니다.
본문 1: 데이터센터 부문의 성장 동력
2025년 데이터센터 부문 매출이 39% 증가한 54억 달러를 기록한 것은 AI 인프라 수요가 급증하고 있음을 보여줍니다. 이는 NVIDIA가 AI 성장 초기 단계에서 보였던 패턴과 유사합니다. AMD가 데이터센터 GPU 시장에서 점유율을 확대하고 있는 것은 AI 모델 훈련과 실행에 필요한 고성능 칩 수요가 증가하고 있기 때문입니다. 이는 AMD의 매출 성장과 수익성 개선에 긍정적으로 작용할 전망입니다.
본문 2: AI 칩과 소프트웨어 생태계의 전략적 의미
AMD의 MI350 시리즈 칩과 ROCm 소프트웨어 생태계는 AI 모델을 효율적으로 실행할 수 있는 플랫폼을 제공합니다. 이는 AI 개발자들이 AMD의 하드웨어를 선택하는 데 중요한 역할을 합니다. 특히 ROCm은 NVIDIA의 CUDA와 경쟁할 수 있는 대체 솔루션으로 주목받고 있습니다. AMD가 AI 칩과 소프트웨어 생태계를 통합함으로써 AI 시장에서의 경쟁력을 강화할 수 있을 것입니다.
본문 3: 2027년까지의 성장 전망
AMD는 2027년까지 AI 사업의 연간 매출이 수조 달러에 달할 것으로 전망하고 있습니다. 이는 현재 AI 사업이 초기 단계에 있음을 고려할 때, 향후 몇 년 동안 급격한 성장이 예상됩니다. 그러나 경쟁사인 NVIDIA와의 경쟁과 기술 개발 속도가 주요 리스크로 작용할 수 있습니다. AMD가 AI 시장에서의 점유율을 지속적으로 확대할 수 있을지 주목됩니다.
결론
AMD는 데이터센터 부문의 성장과 AI 칩 및 소프트웨어 생태계 확장을 통해 AI 시장 공략을 강화하고 있습니다. 2027년까지 AI 사업의 연간 매출이 수조 달러에 달할 전망인 것은 투자자에게 긍정적인 신호로 작용할 수 있습니다. 향후 AMD의 AI 사업 확장 속도와 경쟁사와의 경쟁 관계에 주목할 필요가 있습니다.
Original Article
Missed Nvidia? AMD Could Be Your Second Chance to Earn Massive AI Gains
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The artificial intelligence (AI) boom created one of the most extraordinary stock market winners in history. Nvidia (NVDA) has evolved from just a gaming/niche GPU company into the backbone of the AI revolution, now holding the “AI King” crown firmly. It delivered massive gains of 22,648% over the last decade that many investors now regret missing. But markets do not only provide one chance. Investors who believe they arrived late to the Nvidia boom may get a second shot with Advanced Micro Devices (AMD) . While it is not comparable to Nvidia, it has the potential to be very strong in its own way.
Valued at $448.2 billion, AMD stock is up 33% year-to-date (YTD), compared to the tech-led Nasdaq Composite Index ($NASX) gain of 4.7% YTD.
AMD is not the dominant player today. But it is growing, gaining adoption, and expanding its product lineup, and is still in the process of scaling its AI business. This is very similar to where Nvidia stood before its explosive growth phase. In 2025, AMD’s revenue grew 34% year-over-year (YoY) to $34.6 billion, driven by growth in data centers , AI, PCs, gaming, and embedded systems. Adjusted earnings rose 26% to $4.17 per share. The data center segment, which is directly tied to AI infrastructure, grew 39% YoY to $5.4 billion. Even for Nvidia, the data center segment is what powered its meteoric rise.
AMD’s MI350 series are the chips that are designed specifically for AI workloads, including training and running large models. It is also expanding its software ecosystem using ROCm, which allows millions of AI models to operate efficiently on its hardware. AMD expects its AI business to grow substantially, with yearly revenue reaching tens of billions by 2027. This forecast indicates that AMD is still early in its AI monetization cycle.
Unlike Nvidia in its early AI days, AMD is entering an industry where demand is already established and fast-growing. Nvidia had to prove the AI market. But AMD does not have to. Being the second player could work in AMD's favor. The global AI infrastructure opportunity is anticipated to be $498 billion by 2034. Hyperscalers and enterprises are rapidly expanding their infrastructure to support the massive AI workloads. AMD claimed that cloud providers significantly increased deployments, with over 500 AMD-based instances built in 2025 alone and approximately 1,600 EPYC cloud instances currently operational.
Notably, AMD’s EPYC CPUs are increasingly seen as the processor of choice for modern data centers due to their performance and efficiency. Furthermore, rising CPU prices across the industry could act as a meaningful tailwind for AMD. According to reports, AMD is planning a 10% to 15% price hike, which will give it pricing power at a time when demand for high-performance computing and AI infrastructure is surging.
AMD is also deepening its partnerships, including its recent multi-generation partnership with OpenAI and Meta (META) involving large-scale GPU deployments. These types of contracts create predictable demand and recurring revenue. Additionally, its new platforms, like Helios and future MI400 and MI500 series chips, are already generating strong customer interest. These new products are expanding its reach with major cloud providers, enterprise customers, and system manufacturers.
This is probably why AMD trades at a relatively high multiple compared to Nvidia. Currently, AMD is valued at 38 times forward earnings, compared to Nvidia at 23x forward earnings. However, this premium also reflects expectations for AMD’s future growth. Analysts project AMD’s earnings to increase by 60.4% in 2026, followed by 61.9% in 2027. While AMD might be the cheaper option to buy now, the AI market is highly competitive and evolving rapidly. In its path to success, the stock could face volatility.
While Nvidia still holds the crown, it probably has already delivered its biggest gains. It is now a dominant, mature AI leader with expectations priced into its stock. However, AMD is still in the early stages of scaling its AI business. AMD expects its data center segment to grow more than 60% annually over the next three to five years. At the same time, it is targeting overall revenue growth of more than 35% annually over that period. The company also has a long-term goal of generating more than $20 in annual earnings per share. It is gearing itself for sustained multi-year growth powered by AI. But it could take time for the company to reach the level of dominance or market saturation that Nvidia has.
Investors willing to accept some risks along the way, AMD could indeed be the second chance to participate in the next stage of the AI revolution while the story is still unfolding.
Overall, Wall Street says AMD stock is a “ Strong Buy .” Of the 45 analysts covering the stock, 31 rate it a “Strong Buy,” two rate it as a “Moderate Buy,” and 12 rate it a “Hold.” The stock has an average target price of $288.83, which it is just shy of. Plus, the high price estimate of $380 suggests the stock has an upside potential of 34% over the next 12 months.