03:12 PM EDT, 06/13/2025 (MT Newswires) -- Advanced Micro Devices' ( AMD ) recent artificial intelligence event was largely "uneventful" as the company recapped its widely understood central and graphics processing units roadmap and strategy to move to full rack artificial intelligence solutions, Oppenheimer said in a note emailed Friday.

During the Advancing AI event Thursday, AMD Chief Executive Lisa Su showcased the Instinct MI350 and MI400 series GPUs and previewed a next-generation AI rack called Helios.

The MI350 series, comprising MI350X and MI355X AI chips and platforms for high-performance computing, are said to be 35 times faster than their predecessors in inferencing, a process that a machine learning model uses to draw conclusions from brand-new data, the company said Thursday.

Oppenheimer said AMD's management sees the data center AI accelerator's total addressable market growing "faster and larger" than last year's estimate of $45 billion in 2023 growing over 60% to $500 billion in 2028, though no new figures were shared.

"Management believes, and we agree, the flexibility/performance of GPU should translate to continued majority accelerator share as frontier large language models evolve apace," Oppenheimer said.

That said, the company also failed to share material new data or detail to drive investor excitement, resulting in shares closing down 2% on Thursday, Oppenheimer added.

While the company has made progress in capturing server share, its larger rival, Nvidia (NVDA) continues to push the goal post forward.

"We remain sidelined as AMD's AI vision proves out," Oppenheimer said.

The firm maintained its perform rating on the stock.

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