KeyBanc Capital Markets upgraded AMD to 'Overweight' following strong evidence of accelerating demand from major hyperscalers, with revenue forecasts revised upward for both 2026 and 2027. The move reflects growing confidence in AMD’s data center momentum.
- KeyBanc upgraded AMD to 'Overweight' from 'Neutral' based on stronger-than-expected hyperscaler demand.
- AMD's data center revenue is projected to grow 28% year-over-year in 2026 and 24% in 2027, according to revised estimates.
- The EPYC and MI300X product lines are seeing increased deployment in large-scale AI and cloud infrastructure deployments.
- Hyperscalers, including those in North America and Asia-Pacific, are accelerating adoption of AMD's server chips to support generative AI workloads.
- The upgrade comes amid improved supply chain execution and broader market share gains in the x86 server processor segment.
- AMD's market share in the data center CPU market reached 13.2% in Q4 2025, up from 10.4% the prior year.
Advanced Micro Devices (AMD) received a bullish upgrade from KeyBanc Capital Markets, which raised its rating to 'Overweight' on the back of expanding adoption across major hyperscale cloud infrastructure providers. The firm cited sustained momentum in data center server chip sales, particularly driven by AMD's latest generation EPYC processors and MI300X accelerators, which are now embedded in next-generation AI workloads.
The analysis is based on publicly available financial and market data, including company disclosures and industry reports, with no reference to proprietary or third-party data sources.