RBC Capital rolled out fresh coverage on AMD, slapping a Sector Perform rating on the chip maker with a $230 price target. The research note highlights AMD's solid momentum in the AI GPU space, particularly as it expands partnerships with major cloud providers. The recent collaboration with OpenAI signals the company is establishing itself as a credible alternative in the competitive AI accelerator market. As hyperscalers race to diversify their GPU supply chains beyond traditional players, AMD's positioning in this arms race deserves attention from investors tracking AI infrastructure plays.