AMD Stock Surges on Expanded Partnership With Google. What Comes Next.

Investors are cheering Advanced Micro Devices (AMD) shares on Nov. 9 after the chipmaker announced an expanded partnership with Alphabet's (GOOG) (GOOGL) Google. In its press release, AMD said the hyperscaler is using its fifth-generation EPYC processors to power its cloud TPU 8tx host infrastructure.

AMD stock has been a blockbuster investment in 2026, currently trading at more than 2x its price at the start of this year. 

Significance of Google Partnership for AMD Stock

The expanded Google partnership reinforces AMD’s push to become a foundational supplier of AI infrastructure rather than a challenger only in the accelerator market. 

For investors, the announcement is bullish, given Google Cloud remains one of the biggest spenders in AI infrastructure. 

Winning a larger role inside its AI stack strengthens AMD’s credibility with enterprise clients and demonstrates that its EPYC server processors continue to gain traction in large-scale deployments.

All in all, the collaboration complements AMD’s rapidly expanding AI accelerator business, with data center sales reaching $8.5 billion in its latest reported quarter.

AMD shares now appear poised to challenge their 20-day moving average (MA). A clear break above $522 could boost upward momentum in the near term. 

Oppenheimer Reiterated Bullish View on AMD Shares

The Google announcement made Oppenheimer’s senior analyst Rick Schafer reiterate his positive stance on AMD stock. In a research note on Monday, he maintained the chipmaker at “Outperform,” with a $600 price target indicating massive upside potential from current levels. 

Schafer expects AMD’s data center sales to more than double in 2027 and eventually account for about 85% of its overall revenue. 

He's also convinced that the company’s artificial intelligence GPU business could surpass its EPYC server CPU segment in terms of revenue contribution next year, supported by rising demand from major AI clients and hyperscale cloud operators. 

What Analysts Expect From AMD Moving Forward

Other Wall Street analysts are just as bullish, if not more, on AMD shares as Schafer. 

The consensus rating on Advanced Micro Devices remains at “Strong Buy,” with the mean price target of nearly $662 indicating the ongoing rally is not out of steam just yet. 

On the date of publication, Wajeeh Khan did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.