New York, June 11, 2026, 16:20 (EDT)
- AMD jumped after Bank of America boosted its price target and lifted its forecast for the company’s share in the server-CPU market.
- The move erased Wednesday’s drop, with investor focus staying on AI infrastructure demand.
- AMD’s July Advancing AI event is now in focus for any updates on its Venice and Helios roadmap.
AMD shares rallied Thursday, ending the day at about $488.40, up $36.00, or nearly 8%, from a $452.40 close on Wednesday. Shares reversed their losses from earlier in the week and traded near session highs for much of Thursday.
Bank of America cited CPUs’ potential impact on agentic AI in its new note, lifting AMD’s price target to $560 from $500. The bank now sees the 2030 server CPU total addressable market at more than $170 billion, up from $125 billion, saying agentic AI might open up a bigger CPU opportunity than it had expected.
BofA’s Vivek Arya said agentic AI is “a powerful demand accelerant that expands the CPU opportunity and lifts both x86 incumbents and ARM challengers.” AMD is the firm’s top CPU pick. BofA cited AMD’s position, a strong pipeline and an upcoming AI day where AMD is expected to show Venice, its next-gen server chip platform. Investing.com
BofA’s note cast AMD’s move as more than just a play on GPUs. The firm still sees accelerators as key for AI training and inference, but said CPUs work better for latency-sensitive, input-output-heavy workloads in agentic AI. Nvidia is still BofA’s top semiconductor choice overall. Still, AMD stands out in CPUs, according to the bank.
AMD is making a similar argument. In a June 9 blog post, the company said its EPYC chips are built for rack-scale agentic AI workloads. AMD said the current EPYC 9965 offers 2.37x the rack-level throughput of an Nvidia Vera baseline in a simulated 100 kW rack setup. The next-gen EPYC “Venice” is expected to push that out to 3.30x, according to AMD. AMD
Questions remain about the claim. Tom’s Hardware pointed out on June 10 that AMD didn’t test all the full rack setups in its comparison. For the Venice numbers, AMD used modeling, scaling estimates, and extrapolated benchmarks instead of real measured rack results.
AI hardware stocks were up in premarket hours after signs of solid spending through the data-center supply chain. TipRanks said Nvidia, AMD, Dell and Super Micro all traded higher as markets tracked Oracle’s move to commit about $70 billion to data centers and computing gear next year. Oracle shares were still under some pressure over funding.
AMD’s most recent earnings are still in focus. The chipmaker posted first-quarter revenue of $10.3 billion in May, up 38% year over year. Data-center sales jumped 57% to $5.8 billion as demand for EPYC chips stayed strong and Instinct GPU shipments kept growing. AMD said it expects second-quarter revenue of around $11.2 billion, give or take $300 million.
AMD Chair and CEO Dr. Lisa Su had said, “We are seeing strong momentum as inferencing and agentic AI drive increasing demand for high-performance CPUs and accelerators.” That quote is back in focus Thursday, driving the bull case in the session. Advanced Micro Devices, Inc.
AMD’s Advancing AI 2026 event is up next, set for July 22-23 in San Francisco. The company will hold sessions covering AI infrastructure, AMD Helios and enterprise AI deployment. AMD gets a new shot to expand on its server roadmap at the event after the focus this week on Venice and agentic AI workloads.
