By Shalu Saraf
Publication Date: 2025-11-21 10:52:00
Raymond James is doubling down on the AI chip boom. Top Analyst Simon Leopold rolled out new coverage on Nvidia (NVDA), Advanced Micro Devices (AMD), and Broadcom (AVGO), calling all three key players in the growing AI chip market. The 5-star analyst expects spending on AI computing to stay strong and believes these companies could benefit as the industry expands. Leopold rated all three stocks as Buys with price targets that suggest meaningful upside from current levels.
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Nvidia Still Leads the Pack
Leopold said Nvidia remains the front-runner in AI chips as companies build large AI-focused computing systems. The analyst set a $272 price target for NVDA, which implies roughly 50% upside from current levels. He noted Nvidia has a massive installed base and strong ties with governments and major tech firms.
He also believes demand for the new Blackwell chips could be stronger than what the market expects today. While he noted that pullbacks can happen, he said AI spending remains healthy and Nvidia shares still look appealing.
AMD Is Winning Big New Deals
Leopold said AMD is gaining momentum and winning meaningful new deals in both servers and PCs. The analyst set a $337 price target, which signals about 82% upside from current levels. He pointed to new agreements with OpenAI and Humain, which he believes could bring in up to $15 billion in revenue in 2026, with more growth in 2027 as projects scale.
He said AMD is now being seen…
