NEW YORK, Jan 15, 2026, 09:46 EST — Regular session
- AMD shares jumped roughly 3% in early trading, lifted by renewed signs of AI-driven demand boosting chip stocks.
- KeyBanc raised its rating on AMD this week, pointing to constrained server CPU supply in 2026 and possible pricing power
- Investors are focused on the Feb. 3 earnings and the potential impact of new U.S. chip tariffs on order flows
Advanced Micro Devices (AMD.O) shares climbed 3.3% to $230.96 early Thursday, buoyed by a wider surge in semiconductor stocks. The rally followed Taiwan Semiconductor’s optimistic spending forecast, which reignited interest in AI-related plays. (Reuters)
The move matters now because investors are zeroing in on any signals about 2026 data-center demand, whether it’s foundry spending or whispers of new orders. For AMD, this comes amid debate over whether it can convert AI accelerator hype into consistent revenue and margin growth, while Nvidia continues to lead the pack.
The next milestone is just around the corner. AMD plans to release its fourth-quarter and full-year 2025 results after the market close on Feb. 3, followed by a conference call at 5 p.m. EST, the company announced. (AMD)
AMD got a boost earlier this week when KeyBanc Capital Markets upgraded the stock to “overweight,” grouping it with Intel. Analyst John Vinh noted both companies are “largely sold out” of their 2026 server CPU capacity, highlighting strong demand from hyperscalers — the largest cloud data-center operators. (Investopedia)
Vinh set a $270 price target on AMD, noting supply checks hint the company could push average selling prices—or per-chip prices—up by 10% to 15% as supply remains tight. He also forecast at least 50% growth in AMD’s server CPU segment by 2026. Demand for MI355 AI accelerators is strong, and the MI455 lineup is linked to a “Helios” rack-scale platform expected in the year’s second half. (MarketWatch)
Sentiment in the chip sector got a boost Thursday after TSMC announced plans to ramp up capital expenditure to $52 billion-$56 billion in 2026. Investors saw the jump as a clear signal of growing demand for advanced packaging and cutting-edge AI chips. The semiconductor giant, which supplies AMD and Nvidia, also said AI-related revenue is expected to keep rising sharply in the years ahead. (Financial Times)
Policy risk has resurfaced. President Donald Trump slapped a 25% tariff on imports of select advanced AI chips, including Nvidia’s H200 and AMD’s MI325X, citing national security concerns. The order does carve out exemptions for chips brought in for specific U.S. uses. (Reuters)
That’s the catch for the bulls. If tariffs and export rules change once more, demand or costs could take a hit fast. And if cloud spending dips, it would challenge the claim that server capacity is “sold out” well into next year.
Competition remains a key challenge. Despite talk of improved pricing, AMD must deliver enough accelerators and systems promptly to capture significant share in AI-focused data centers, where buyers typically stick with widely available options.
Investors are eyeing AMD’s Feb. 3 report closely, hoping for signs that data-center demand and pricing remain strong. They’ll also watch for any hints that tariffs or exemptions are impacting orders.
