NEW YORK, Jan 13, 2026, 14:02 EST — Regular session
- AMD shares jumped roughly 6% after KeyBanc upgraded its outlook on data-center chips
- Analyst points to constrained server CPU supply alongside rising demand from hyperscalers
- Attention now turns to earnings on Feb. 3 and upcoming inflation data due this week
Shares of Advanced Micro Devices climbed roughly 6.4%, hitting $220.88 by early Tuesday afternoon, pushing AI-related chip stocks upward.
The jump came after KeyBanc Capital Markets bumped AMD and Intel to “overweight,” a shift timed with investors trading the AI theme based on subtle shifts in demand cues. (Reuters)
Why it matters now: chip investors are scrambling to see if data-center spending is spreading beyond Nvidia’s high-end accelerators into CPUs, memory, and networking, right as earnings season kicks off. (Reuters)
Tuesday’s U.S. CPI report kept the spotlight steady. The Labor Department recorded a 2.7% rise in consumer prices over the 12 months ending December, with core CPI—excluding food and energy—up 2.6%. That leaves the door open for rate cuts, despite lofty tech valuations. (Bureau of Labor Statistics)
KeyBanc analyst John Vinh gave AMD a $270 price target, noting the company is “almost being completely sold out of server CPU in 2026.” The same report projects AMD’s server CPU business to “grow at least 50% this year.” AI-related revenue could hit “$14B–$15B” by 2026, driven by MI355 shipments and a ramp-up of MI455-based “Helios” systems. (ASP means average selling price; GM stands for gross margin.) (Investing)
Vinh highlighted cloud “instance” data—tracking deployed computing capacity—as a quick gauge of demand. According to a Benzinga report quoting KeyBanc, AMD’s processor instances remained flat month-on-month in December but climbed 16% year-on-year. Meanwhile, the newer “Turin” instances saw a 4% increase month-on-month. (Benzinga)
Intel shares climbed roughly 7.8% to $47.51. Nvidia barely moved, while Arm slipped around 3.5% on the day.
Macro remains in the background. A Reuters report noted December consumer prices increased as anticipated, supporting expectations that the Federal Reserve could keep rates steady for now. (Reuters)
Investors have their sights set on Wednesday’s producer price index (PPI) release at 8:30 a.m. Eastern, along with the Fed’s Jan. 27-28 meeting. Both events could shake up rate-sensitive tech stocks. (Bureau of Labor Statistics)
AMD’s next major event is its earnings report. The company plans to release its fiscal fourth-quarter and full-year 2025 results on Tuesday, Feb. 3, after the market closes, followed by a conference call at 5:00 p.m. EST. (AMD)
Yet the trade can flip quickly. Should hyperscaler orders falter or memory shortages tighten, what was once a “sold-out” story could flip to delayed customer shipments and cautious forecasts — all while competitors vie for the same racks.
On Feb. 3, traders expect hard data on data-center CPU demand and pricing, plus an early glimpse at 2026 AI system rollouts. Tuesday’s upgrade has already surged expectations for the stock.
