According to the Zhitong Finance app, AMD (AMD.US) posted its best single-day performance in six months. On Monday, November 9, it closed up 13.26% at $508.58, compared to the previous trading day’s close of $449.04.
USD. Two drivers: Google Cloud TPU 8tx platform has selected the fifth-generation EPYC as its host.
CPU; Oppenheimer raised its rating from "Market Perform" to "Outperform" on Sunday. On the same day, NVIDIA (NVDA.US) closed down 4.27% at $178.67.
Dollars, while Michael Burry, the famous short-seller, wrote in his paid column: "AMD rose on NVIDIA's news, but I won't be making this trade."
A 13% increase, with each catalyst accounting for half.
This is a volume-driven emotional recovery, not a gradual valuation uplift. Trading volume reached 50.7 million shares, approximately 123% higher than the three-month daily average; intraday range: $468.21 to $515.18.
USD. Even so, the stock price is still 22.8% below its 52-week high of $658.52.
The rebound began after the sharp sell-off a week ago. On November 5, concerns over AI capital spending returns and regulatory pressures surged, causing the Philadelphia Semiconductor Index to drop approximately 12%, NVIDIA to fall 9%, and AMD to plunge intraday.
17.26% to $404.40. Four trading days later, AMD reportedly announced its fifth-generation EPYC for Google Cloud TPU v8.
Provide host computing power; this platform is the first TPU system to use hardware-enforced confidential computing to protect model weights and enterprise data during processing.
EPYC’s leading performance and mature ecosystem have been proven in large-scale deployments, making it the preferred host CPU for custom accelerators. AMD
CEO Lisa Su said during last week’s earnings call. The company stated that EPYC has served more than ten hyperscale cloud providers and leading AI laboratories.
From competing for CPU shares to scaling AI computing power
Oppenheimer analyst Rick Schafer wrote in a report: "AMD's success in server CPUs and data center AI is undeniable." Target price: $600.
USD: Implied approximately 18% from Monday's close, or about 34% based on the November 6 close of $449.04. The bank expects data center revenue to grow by 2027.
135%, accounting for approximately 85% of sales at that time; computing power will reach about 3 GW in 2027 and increase to 4 GW in 2028.
Freedom Broker maintained its "Buy" rating on the same day, raising its price target from $460 to $620, implying a 21.9% upside, stating that the third quarter marked AMD's transition from "expanding CPU
Shift from market share to scaled AI infrastructure supply.
The company’s own figures are more aggressive: revenue for the third quarter (announced on November 3) reached $13.4 billion, a 45% year-over-year increase, with data centers contributing $8.5 billion, up 97%.
Record-breaking; Q4 revenue guidance is approximately $17 billion, with a ±3% fluctuation. Lisa Su stated that the company's revenue will grow by 80% by 2027.
This exceeds twice the long-term model from last year's Financial Analyst Day; server revenue has doubled, and data centers are expected to contribute over 80% of sales next year, with AI revenue within the segment surpassing server CPU revenue by Q4 2026.
Revenue. Early customers of the Helios rack include Anthropic, Meta, Microsoft, OpenAI, and Oracle.
The same quarter also had its downsides: game revenue declined 40% year-over-year, client and game revenue totaled $3.7 billion, down 8%, and the company expects a double-digit decline in PC shipments next year.
NVIDIA's governance headwinds have become a tailwind for AMD.
AMD rose "easily," partly because capital needed a place to go. November 8
On [date], NVIDIA’s board of directors announced the initiation of an independent investigation into a matter concerning the personal conduct of CEO Jensen Huang, following reports of external intelligence activities targeting him; the board stated there is no reason to believe the company’s secrets or national security have been compromised, and Huang continues to serve as
CEO.
Bank of America characterized this as "a new overhang, but not yet a profit event," maintaining its "Buy" rating on NVIDIA and a $350 price target (implying a potential upside based on its calculation from the previous close).
96%), and noted that NVIDIA's distractions may
AMD, Broadcom (AVGO.US), and Marvell Technology (MRVL.US) benefit, but suppliers with greater exposure to China will face higher volatility due to expanded scrutiny. Dan from Yorkville Ives
Ives called the matter a "stain" on Huang Renxun and anticipated that Congress would intervene to inquire—this is his expectation, not a confirmed development.
Beri: Don't touch this trade, but don't cancel any open orders either.
Burry began his caution regarding AI chips in June: at that time, he disclosed a short position in the iShares Semiconductor ETF (SOXX), citing overextended valuations and AI
Infrastructure spending is unsustainable. Last month, he concentrated most of his short exposure on put options for the Nasdaq 100 Index and the VanEck Semiconductor ETF (SMH), expiring in April and June 2027, respectively.
All expired monthly options were out-of-the-money by 20%. He also accused NVIDIA of interference in March, blocking AMD from a related AI infrastructure deal with Oracle.
But he is not ideologically bearish on AMD—he’s price-dependent: “If AMD were cheaper, I’d buy it, because if NVIDIA is eventually sued for antitrust violations, AMD could receive triple the damages.”
Last week, SMH plunged 11.21% to $447.73 on November 5, and he sold 25% of his SMH holdings.
Put options, while emphasizing that even after selling this portion, the remaining position is still a very large stake. The rest of the short structure remains unchanged: Oracle, Palantir, QQQ.
He continued holding his put options on Caterpillar, reducing his position by 75% after the value of the Caterpillar puts roughly quadrupled; he also bought—increasing his position in MercadoLibre at below $1,500 per share.
50%.
His bet was directly on "NVIDIA's proxy": NVIDIA accounts for 20.57% of SMH's weight; on November 5, when NVIDIA dropped 9.26%, this ETF
It dropped almost as sharply as a single stock.
Retail sentiment has swung to the other extreme. On Stocktwits, AMD's sentiment score jumped from "bullish" to "extremely bullish," with a surge in 24-hour message volume.
277%. The divergence ultimately came down to valuation: LSEG data shows that 48 out of 56 analysts covering AMD have issued "Buy" or "Strong Buy" ratings, but target prices range from Morgan Stanley's $550
From $800 to Citigroup; according to the same source, AMD's stock price is approximately 100 times its earnings over the past 12 months. This is precisely why Burry shorted SOXX in June.
The reason he mentioned before—this time, he wasn't going to make a judgment based on a single news article.