--- title: "What Is Going on With AMD Stock on Wednesday?" type: "News" locale: "en" url: "https://longbridge.com/en/news/305188898.md" description: "AMD stock rose over 2.5% on Wednesday after Google selected its 5th-gen EPYC chips for the TPU 8tx AI system, boosting investor confidence amid strong AI infrastructure demand. Analysts praised AMD's supply execution compared to competitors like Intel. Additionally, AMD invested in Anthropic's $26 billion private placement linked to its IPO. Technical indicators show neutral RSI, with key resistance at $579 and support at $502. Analyst consensus remains Buy with an average price target of $640.96." datetime: "2026-11-11T15:20:36.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/305188898.md) - [en](https://longbridge.com/en/news/305188898.md) - [zh-HK](https://longbridge.com/zh-HK/news/305188898.md) generator: "portal-rs" --- # What Is Going on With AMD Stock on Wednesday? **Advanced Micro Devices Inc.** (NASDAQ:AMD) stock is up more than 2.5% at the last check on Wednesday as investors weighed continued AI infrastructure demand and an expanded partnership with Google’s parent company, **Alphabet Inc.** (NASDAQ:GOOG) (NASDAQ:GOOGL). Google selected AMD’s fifth-generation EPYC processors for its new TPU 8tx AI computing system. Google Cloud executive **Mark Lohmeyer** said the partnership brings hardware-enforced confidential computing to cloud TPUs for the first time. The agreement gives AMD exposure to AI infrastructure spending even when cloud providers deploy their own AI chips. AMD has also benefited from investor rotation away from **Nvidia Corp.** (NASDAQ:NVDA) following a board investigation involving CEO **Jensen Huang**. ## Goldberg Praises AMD’s Supply Execution **Seaport Research Partners** semiconductor analyst **Jay Goldberg** said CEO **Lisa Su** has positioned AMD well while competitors struggle with manufacturing constraints. "This was Lisa at her best. This is a company that’s executing very well," Goldberg said on The Circuit podcast. "If you have capacity, you win and if you don’t have capacity, you get punished," he added. Goldberg contrasted AMD’s position with **Intel Corp.** (NASDAQ:INTC), which has faced production and supply constraints. Intel CFO **David Zinsner** similarly said on the company’s October earnings call, "I really see market share next year being a function of supply." ## CPUs Remain Important To AMD Goldberg said CPUs remain more important to AMD’s business than GPUs despite investor attention on its competition with Nvidia. Google’s decision to use AMD EPYC processors alongside its own TPUs reinforces that opportunity. Goldberg also argued that the recent semiconductor selloff went too far given continued orders and cloud spending, although he sees a longer-term risk from additional chip factories and data-center capacity expected in 2028. "I don’t think we’re there yet," Goldberg said when discussing the possibility of excess GPU supply. ## Anthropic IPO Adds Another AI Link AMD is among seven cornerstone investors in a separate $26 billion private placement connected to Anthropic’s planned IPO. The group also includes Alphabet, NVIDIA and more. **Dan Ives** said the offering could be "a positive step for the tech sector" and expects strong institutional demand. ## Technical Analysis AMD shares were up 5.44% at $543.26 during premarket trading on Wednesday, according to Benzinga Pro data. The stock trades 5.1% above its 20-day SMA of $518.50 and 30.2% above its 200-day SMA of $418.54, while remaining 0.7% below its 50-day SMA of $548.56. The stock’s RSI of 48.80 sits in neutral territory. The 20-day SMA remains below the 50-day SMA, while the 50-day SMA stays above the 200-day SMA. **Key Resistance:** $579.00 **Key Support:** $502.50 ## Analyst Outlook AMD carries a Buy consensus rating with an average price forecast of $640.96. Recent actions include **Oppenheimer** upgrading AMD to Outperform with a $600 forecast, **UBS** maintaining Buy while lowering its forecast to $700, and **JPMorgan** maintaining Neutral while raising its forecast to $575. ## ETF Exposure AMD carries a 9.47% weighting in the **iShares Semiconductor ETF** (NASDAQ:SOXX), 9.73% in the **Defiance Inference AI Chip ETF** (NASDAQ:AINF) and 9.17% in the **Invesco AI and Next Gen Software ETF** (NYSE:IGPT). **Read Also: Why Is NVIDIA Stock Gaining Wednesday?** *Image via Shutterstock* ### Related Stocks - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [AMDC.US](https://longbridge.com/en/quote/AMDC.US.md) - [AMDD.US](https://longbridge.com/en/quote/AMDD.US.md) - [AMDG.US](https://longbridge.com/en/quote/AMDG.US.md) - [AMDL.US](https://longbridge.com/en/quote/AMDL.US.md) - [AMDS.US](https://longbridge.com/en/quote/AMDS.US.md) - [AMDU.US](https://longbridge.com/en/quote/AMDU.US.md) - [AMDW.US](https://longbridge.com/en/quote/AMDW.US.md) - [AMDY.US](https://longbridge.com/en/quote/AMDY.US.md) - [AMUU.US](https://longbridge.com/en/quote/AMUU.US.md) - [AMYY.US](https://longbridge.com/en/quote/AMYY.US.md) - [DAMD.US](https://longbridge.com/en/quote/DAMD.US.md) - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) ## Related News & Research - [‘Everyone Needs Compute’: Lisa Su Sees AMD’s AI Data Center Business More Than Doubling in 2027 as Wedbush Backs $600 Target](https://longbridge.com/en/news/304242508.md) - [AMD's Epyc X-chips are back after a three-year hiatus](https://longbridge.com/en/news/305048300.md) - [AMD forecast eases AI spending fears as data-center sales surge](https://longbridge.com/en/news/304182535.md) - [AMD Is a 'Top Pick': TD Cowen Sees Strong AI Momentum After Q3 Beat and Raise](https://longbridge.com/en/news/304264552.md) - [These Analysts Revise Their Forecasts On AMD After Q3 Results](https://longbridge.com/en/news/304279514.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**