Why Advanced Micro Devices Rallied Today
Shares of artificial intelligence (AI) chipmaker Advanced Micro Devices (NASDAQ: AMD) rallied 9.8% on Monday, as of 12:43 p.m. ETAMD made some big product announcements last week, especially around AI. Today, a Wall Street analyst wrote his positive conclusion on the event, and revealed some positive industry data in the PC space, too.Last week's big event centered on AMD's new Instinct MI350 accelerators, and upcoming MI400 "Helios" racks, which will be available next year. But one sell-side analyst also sees some optimistic signs in AMD's client business, which led to a price target bump today. Continue reading
Shares of artificial intelligence (AI) chipmaker Advanced Micro Devices (NASDAQ: AMD) rallied 9.8% on Monday, as of 12:43 p.m. ET
AMD made some big product announcements last week, especially around AI. Today, a Wall Street analyst wrote his positive conclusion on the event, and revealed some positive industry data in the PC space, too.
Last week's big event centered on AMD's new Instinct MI350 accelerators, and upcoming MI400 "Helios" racks, which will be available next year. But one sell-side analyst also sees some optimistic signs in AMD's client business, which led to a price target bump today.
