10:27 AM EDT, 08/26/2025 (MT Newswires) -- Advanced Micro Devices ( AMD ) is recently viewed as a potential partner by hyperscale customers rather than just a "price check" to Nvidia (NVDA), Truist Securities said in a note Tuesday.

The firm said its industry contacts have been noticing increasingly over the last month or so that hyperscalers have been expressing interest in the deployment of AMD at scale.

Hyperscale customers deploying artificial intelligence used to only experiment with the company's technology as a price check to Nvidia and "nothing more," Truist said, citing its contacts.

The firm said it continues to have a positive view on Nvidia, but it recognizes "a shifting narrative" from contacts.

Truist upgraded AMD's rating to buy from hold and raised its price target to $213 from $173.

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