AMD Stock Skyrockets on AI Mega-Deals — Is $300 Next?
AMD’s exhibition stand at Gamescom 2022. AMD has been aggressively showcasing new AI infrastructure (like the “Helios” rack platform) and forging partnerships across the industry. As a result, AMD stock has raced higher this month – on Oct. 15 it hit a 52-week intraday high of $240.48 and closed around $238.7 marketbeat.com, up over 8% that day. In the past week, the catalyst was two major AI deals. On Oct. 6, AMD announced a multi-year agreement with OpenAI: the chipmaker will supply six gigawatts of high-performance Instinct GPUs to OpenAI’s training data centers, and OpenAI received warrants to buy up