As Data Center Investing Meta Made, AMD and American Tower Could Be the Top Investments to Buy

The CEO of Meta Platforms (META) Mark Zuckerberg has made it clear where the company is going. In January, he unveiled “Meta Compute”, a comprehensive plan to build Meta’s future around massive AI infrastructure, purpose-built data centers, and dedicated powerhouses.

The company put serious numbers behind that strategy, leading to $115 billion to $135 billion in spending by 2026, almost double the $72.2 billion it spent in 2025, and most of that spending was aimed at building data centers and buying AI chips. Meta’s data center footprint has expanded across US markets, including El Paso, Texas, Kansas City, and Montgomery, and El Paso stands out as one of its largest and fastest growing projects. On March 26, Meta said it is increasing its investment in the El Paso area to more than $10 billion, with the goal of reaching one gigawatt of capacity by 2028.

This move is part of a much larger trend. The biggest tech companies are spending a lot of money to build the infrastructure needed to support the next phase of AI, from chips and land to the physical networks that connect it all. Two stocks, in particular, focus on the topic of data center investments: Advanced Micro Devices (AMD) and American Tower Corporation (AMT).

With Meta’s currency clearly on the rise, are these two among the stocks best positioned to benefit? Let’s see.

Advanced Micro Devices

Santa Clara-based chipmaker Advanced Micro Devices designs and sells CPUs and GPUs used in other parts of the computing market, from gaming applications to big data centers for AI.
In the past 52 weeks, stock rose to 88.67%which shows the level of interest from investors around the growth of data center demand. So far this year, however, shares are down 6.04%, which could give investors a better entry point after last year’s strong run.

When tested, AMD sells with forward P/E of 39.04 timescompared to the mid-term portion of 21.12. That’s a clear premium, but it also shows that the market is still willing to pay more for AMD because of its strong growth profile.
The company’s latest results help explain that sentiment. AMD is written record Q4 2025 revenue of $10.3 billion and ended the full year of 2025 with a record $34.6 billion in revenue. Non-GAAP operating income for the year came in at $7.8 billion, while diluted EPS came in at $4.17. For Q1 2026, AMD expects revenue of approximately $9.8 billion, indicating growth of approximately 32% year-over-year (YOY).
AMD is also doing more to strengthen its position in AI infrastructure. The company recently announced a partnership with Celestica (CLS) to bring the Helios rack-scale AI platform to market, which combines next-generation AMD Instinct MI450 Series GPUs with Celestica’s advanced networking technology, with availability expected by the end of 2026. Additionally, AMD sign a multi-year partnership with Nutanix (NTNX) in February 2026 and committed up to $250 million to support AI workloads on AMD-powered infrastructure. Together, those moves show AMD is working to expand beyond chips and offer broader AI applications, the kind large customers like Meta need to support 1GW data centers.
Wall Street is always positive on stocks. Of the 45 analysts surveyed, 30 say it’s a “Strong Buy,” two as “Moderate Buy”and the remaining 13 are “Hold.” The average price range of $286.37 suggests about 41.8% upside from the current share price, and the Street-high price of $380 looks to be an 88% upside from here.

American Tower Society

American Tower is a real estate investment trust that owns and operates digital media, best known for its world-class tower portfolio. But CoreSite, its data center and connectivity business, is becoming an important part of investors.
Shares down 20.8% over the past 52 weeks and down another 3.45% year-to-date (YTD), suggesting that the market is still underappreciating the company’s growing role in AI-related digital infrastructure.

That gap is also reflected in the value proposition. American Tower it trades at a trailing P/E of 15.78 timeswhich is below the sector average of 30.54 times, suggesting that the stock is trading at a discount.
In the fourth quarter of 2025, American Tower reported revenue of $2.74 billionrevenue of $820.7 million, and earnings from operations of $1.23 billion, or $2.63 per share. For the full year 2025, revenue came in at $10.64 billion and FFO came in at $5.04 billion, or $10.76 per share. Management also guides 2026 FFO of $10.78 to $10.95 per share.
Additionally, CoreSite is becoming increasingly important to the company’s long-term growth. In January, its Chicago campus launched 400G AWS Direct Connect to support high-bandwidth AI and enterprise multitasking. Then in March, it became one of the first carrier-neutral operators in North America get Google Gold Verified Peering Provider statusimproving access to low-time access to Google and Google Cloud services. For AMT, that makes CoreSite even more valuable as a point of contact with the same Meta AI it helps drive.
Analysts still see upside in the stock. All 23 reviewers asked rate AMT moderate agreement Buyand the average price of $ 215.86 means about 27.3% from the current price of the share.

The end

The 10 billion Meta expansion in El Paso is another clear indication that the use of AI tools is not slowing down anytime soon, and that creates a strong background for AMD and American Tower. AMD looks like a more direct growth play, with chips and an AI platform closely aligned to the next wave of hyperscale data center demand. However, American Tower offers a sustainable way to engage in the same process through digital tools and connectivity. If AI usage continues to increase rapidly, the potential upside for both stocks is high over time, with AMD likely leading the way and AMT offering more durable, value-driven benefits.

At the date of publication, Ebube Jones had no (either direct or indirect) position in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. For more information please see the Barchart Promotion Policy here.