Advanced Micro Devices AMD received a new bullish view from BMO Capital, which began coverage with an Outperform rating and a $550 price target.

Analyst Harsh Kumar said AMD is moving beyond individual processors toward a broader AI infrastructure offering. The firm pointed to Helios, AMD’s rack-scale AI platform, as an important part of that shift and a potential rival to Nvidia’s comparable systems.

Helios is expected to begin shipments in September, while AMD has already secured customer commitments involving OpenAI, Meta and Anthropic. BMO sees those relationships as a potential source of additional AI infrastructure revenue as deployments expand.

The broader opportunity comes as AMD expands its portfolio across GPUs, CPUs, networking…