AMD Shares Move Higher After BofA Lifts AI CPU Forecast
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.