Amadeus IT Group (BME:AMS) just expanded its collaboration with NVIDIA through a new Memorandum of Understanding, focusing on GPU and AI tools that aim to make complex flight search faster and more scalable.
That agreement comes at a moment when momentum in Amadeus IT Group’s shares has started to pick up again. The 7 day share price return is 6.0% and the 90 day share price return is 14.46%, even though the year to date share price performance is down 9.25% and the 1 year total shareholder return has declined 14.35%.
Scan a curated field of travel and AI infrastructure peers moving on similar catalysts with our hand picked 55 AI infrastructure stocks for context around Amadeus IT Group’s latest NVIDIA partnership.
After a sharp bounce on the NVIDIA news but a weaker 12 month return, the real tension for Amadeus IT Group is simple. Has the market already repriced the story, or is meaningful upside still on the table?
Most Popular Narrative: 14% Undervalued
On the most followed valuation view, Amadeus IT Group screens as undervalued, with a narrative fair value of €65.90 versus the latest close at €56.92. That gap is what frames how some investors are reacting to the NVIDIA partnership news today.
The recent wave of AI related fear has indiscriminately compressed valuation multiples across software, infrastructure and platform businesses. However, this repricing increasingly appears disconnected from operational reality. Amadeus has once again demonstrated that its core platforms remain deeply embedded within the global travel infrastructure, with continued growth across Distribution, Air IT, Hospitality and Airport segments.
See why 11 investors see Amadeus IT Group as 14% undervalued.
Result: Fair Value of €65.90 (UNDERVALUED)
Still, the Amadeus IT Group narrative could be challenged if AI agents reduce reliance on global distribution systems, or if travel volumes weaken and pressure transaction-based revenue.
Find out about the key risks to this Amadeus IT Group narrative.
Another View: What Multiples Say About Amadeus IT Group
There is a catch. On simple P/E terms, Amadeus IT Group does not look cheap at 18.3x, which is slightly above both the European hospitality sector at 18x and its peer group at 15.6x, and even a touch higher than its own fair ratio of 17.9x.
That kind of premium suggests the market already bakes in some quality and resilience. Investors weighing the AI upside also need to ask how much room is left before valuation risk outweighs the potential reward.
See what the numbers say about this price, find out in our valuation breakdown See what the numbers say about this price — find out in our valuation breakdown.
Next Steps
Conflicted by bullish AI headlines and a richer P/E for Amadeus IT Group, yet cautious about recent share price swings? Move quickly to review the data, weigh both the risks and the upside, and ground your own stance using our breakdown of 3 key rewards and 2 important warning signs.
Looking for more investment ideas beyond Amadeus IT Group?
If Amadeus IT Group has sharpened your focus on AI and travel infrastructure, do not stop there. Broader opportunities across quality, value and resilience could matter even more.
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