Nvidia's Q1 Earnings Loom, While AMD's Edge AI Bet Could Change The Narrative

Nvidia Corp NVDA may still be the emperor of AI's training stack, but Advanced Micro Devices Inc AMD is making a compelling case to become the infrastructure king of everything else.

With Nvidia set to report first-quarter earnings on Wednesday, Wall Street expects fireworks – an EPS of 88 cents per share and revenue of $43.54 billion. The stock has surged 20.75% in the past month, and despite being slightly under its eight-day simple moving average (SMA), it’s flashing strong technicals.

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NVDA stock is trading well above its 20, 50, and 200-day SMAs. With a MACD (moving average convergence/divergence) of 6.29 and RSI (relative strength index) nearing overbought at 63.8, the bulls are clearly in control.

Analysts remain solidly bullish. Recent ratings from Wedbush, BofA, and UBS peg an average price target of $170 — implying nearly 30% upside from current levels. NVDA isn't just the leader; it's still the benchmark.

Read Also: After Jensen Huang Criticized US Export Curbs, Nvidia Set To Launch Cheaper Blackwell AI Chip For China Amid Market Share Slide: Report

AMD's Inference-Focused Strategy Finds Tailwinds

But AMD isn't trying to be Nvidia anymore, which might be the smartest move in the AI arms race.

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While AMD has lagged over the past year, down 35.72%, the stock has bounced back 14.44% in the last month. Its recent technicals are mixed — it's trading below its eight-day SMA but above the 20 and 50-day SMAs. The 200-day still looms overhead, yet with a MACD of 4.30 and RSI of 57.67, buying pressure is building.

And then there's the narrative shift.

AI Infrastructure Is Evolving – And So Are Investor Preferences

As Shay Boloor puts it, AMD isn't chasing Nvidia’s crown — it's building a different kingdom. While Nvidia owns training, AMD is positioning for AI's deployment phase: edge computing, sovereign AI, cost-effective inference and modular stacks. Its MI300X chips and ROCm platform aren’t trying to out-CUDA CUDA — they're solving problems CUDA wasn't built for.

The $10 billion Humain deal? That's about control, not hype. It's a bold pivot from playing catch-up to reshaping the battlefield.

In a world where AI infrastructure is becoming political and every enterprise wants sovereignty, AMD's open, modular approach isn't just a Plan B. It might be Plan A for hyperscalers and governments that don't want to be locked into Nvidia's stack.

NVDA might crush this quarter — again. But as AI evolves from a centralized boom to a decentralized wave, the market may start asking a different question:

Not "Can AMD catch Nvidia?" But "Did we underestimate what AMD is becoming?"

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