AMD vs. Intel: Which Stock Could Rise More From Here?

AMD vs Intel is a closer race than it looks, but right now AMD, the cheaper stock, seems to have more room to climb. Intel has run harder over the past year, up 322% against AMD’s 285%, so anyone weighing AMD stock vs Intel stock has to look past the chart. The AMD stock forecast also calls for 105% earnings growth in 2027, against 36% in the Intel stock forecast, making AMD the best AI chip stock of the pair at the time of writing.

AMD vs Intel: Stock Forecast, AI Growth And Upside Potential

CPUs Are Back At The Center Of AI Data Centers

The AMD vs Intel rivalry starts with CPUs. Demand for these chips in AI data centers has picked up, since they handle inference and agentic AI tasks. AMD said the CPU-to-GPU ratio there is moving from 1:4 or 1:8 toward 1:1, and it sees the server CPU market reaching $220 billion by 2030.

AMD CEO Lisa Su had this to say:

“CPUs are a very critical part of data center infrastructure.”

Server CPUs are where the AMD vs Intel fight is tightest. Intel still holds 65.5% of that market, per Mercury Research, but AMD added 7.2 percentage points of share year over year in Q2.

Intel CEO Lip-Bu Tan stated:

“AI is driving unprecedented demand for compute.”

AMD’s GPU Business Gives It An Extra Edge

This is where AMD vs Intel starts to tilt. AMD also sells Instinct data center GPUs to big names such as OpenAI, Meta Platforms and Anthropic. Its data center revenue jumped 107% year over year in Q2 to $6.7 billion, and Intel’s data center and AI (DCAI) segment grew 59% to $6.3 billion.

Lisa Su said on AMD’s Q2 earnings call:

“Demand for both accelerators and CPUs is growing well above our prior expectations.”

Analysts have turned more upbeat on AMD’s long-term growth, lifting the AMD stock forecast, and toned down what they expect from Intel.

Valuation Could Decide The Best AI Chip Stock

On valuation, AMD vs Intel isn’t a close call. Intel’s run has left the stock at 63 times forward earnings, against 40 times for AMD. Consensus estimates call for a 262% jump in Intel’s earnings this year, above AMD’s 82%, but that flips in 2027, when AMD’s growth should speed up to 105% and Intel’s could slow to 36%. That gap is why the AMD stock forecast looks stronger than the Intel stock forecast.

Intel CFO David Zinsner had this to say:

“Customers continue to signal a strong and sustainable spending environment.”

AMD also sees the AI chip market hitting $2 trillion a year by 2030, and that’s a big reason it gets the nod as the best AI chip stock in the AMD vs Intel matchup.

For anyone picking between AMD stock vs Intel stock right now, the numbers point toward AMD. The Intel stock forecast still rests on its server CPU lead, and a 63x multiple leaves little room if growth cools. AMD vs Intel may stay tight in CPUs, but on price and AI reach, AMD looks like the best AI chip stock of the two.