ATLAS
Companies/Accelerators/AMD
AMD

AMD

High-growth Infrastructure Bet
AI accelerators · GPUs · ASICs·US·Santa Clara, CA·#4 / 14 in segment·3.9% of segment mcap·SA Long Put
$447.58
272.2% vs S&P 12m

Second-source GPU vendor with MI300/MI325/MI350 and a strong EPYC CPU franchise serving AI training and inference.

Credible challenger to NVIDIA in inference and meaningful share of CPU host attach; software stack still gating broader training adoption.

Products
  • MI300/MI325
  • EPYC server CPUs
  • Pensando DPUs
  • Xilinx FPGAs
Customers (4)
Competitors (3)

Composite score

Higher = stronger overall research case

65
Fundamental73
Technical82
Valuation20
AI relevance88
Risk-adjusted (higher = safer)46
Segment-relative fundamental percentile: 60

Synthetic 1Y price action

Deterministic price series; 50d (yellow) and 200d (orange) MAs shown

3M RS: 111.8%6M RS: 74.7%12M RS: 272.2%Vol30d: 84%DD52w: -2.4%

Financial summary

Curated, illustrative

Revenue
$37.45B
Growth (YoY)
37.8%
Gross margin
53.1%
Operating margin
14.4%
FCF
$7.17B
Capex
$2.55B
Net cash / (debt)
$8.48B
ROIC
3.6%
Customer conc.
Medium

Valuation

Market cap
$729.82B
Enterprise value
$721.35B
P/E (TTM)
149.2x
Forward P/E
34.5x
EV / Sales
19.3x
EV / EBITDA
97.1x
P / FCF
101.7x
PEG
1.1x
Rule of 40
—

Risks

Severity 1 (low) to 5 (severe)

  • 4
    ROCm software adoption
  • 4
    Valuation premium vs. share gains
  • 3
    Hyperscaler ASIC competition

Score components

What drove the composite

Growth93
Profitability52
Cash generation71
Balance sheet85
Moat / AI relevance88
Capital intensity (higher = lighter)68
Customer diversification60
Valuation discipline (dilution)65
Trend (MA50/MA200)95
Momentum (3/6/12m)80
Relative strength100
Realized vol (higher = lower vol)23

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