New York, Jan 23, 2026, 10:21 a.m. (EST) — Regular session
- Advanced Micro Devices shares climbed 3.6% to $262.86 in early trading
- The stock is heading for its ninth consecutive gain, following an eight-day streak that ended Thursday
- Attention shifts to chip earnings, with AMD set to report on Feb. 3
Shares of Advanced Micro Devices (AMD) climbed 3.6% to $262.86 Friday morning, extending a strong rally over several days. The chipmaker has drawn renewed attention as investors gear up for the upcoming earnings season.
The stock is set for a ninth consecutive gain, marking its longest winning streak in almost six years. This surge has unfolded with few new company-specific updates. Investors appear focused on one key driver: demand for server processors powering data centers, particularly those handling artificial-intelligence tasks. 1
This is crucial now as chip stocks shift focus to near-term supply cues and pricing instead of broad “AI” hype. Investors are weighing if the next surge depends on concrete data — shipments, margins, and specific customers — or if the rally has already gone too far, too fast.
The sector presented a rougher picture elsewhere. Intel shares dropped following a quarterly revenue and profit forecast that missed market estimates, underscoring that not all chipmakers are benefiting equally from the AI surge. 2
Some of the push behind AMD’s gains is linked to sell-side talk about tight supply in server CPUs — the main processors used in data centers — and the potential for higher average selling prices. KeyBanc kept its “Overweight” rating and $270 price target, Barron’s reported, citing expectations for stronger server shipments and growing AI-server demand through 2026. 3
But the rally tightens the margin for slip-ups. A dip in enterprise spending, slower cloud expansion, or weaker results from rivals could weigh on a stock that’s already surged. There’s also uncertainty about how fast AMD can turn AI buzz into steady accelerator sales, especially with Nvidia setting the standard.
Traders are keeping an eye on whether Friday’s gains stick through the close. AMD hit $266.76 earlier, having started the day at $261.41. The stock’s been volatile, with momentum funds and short-term traders driving those wide intraday swings.
AMD’s quarterly earnings on Feb. 3 stand out as the next key trigger. Investors are eager to spot fresh demand trends in data-center gear and any shifts in supply, pricing, or customer adoption stories. 4
