AMD Jumps 3.1% on Analyst Upgrades and U.S. Export Clearance for AI Chips
AMD has more than doubled off its 52-week low of $141.9.
Summary
AMD shares rose 3.1% after analysts raised price targets, citing strong EPYC server CPU demand and potential early AI chip shipments. The U.S. also cleared Zhuhai Hengqin to use certain AMD chips that compete with Nvidia's H200, alongside approvals for three Chinese firms to buy Nvidia H200 processors. This follows a series of positive catalysts, including a 20% surge in May on strong Q2 guidance and a major Meta GPU supply deal. The export clearance opens a new revenue avenue in China, while analyst upgrades reinforce confidence in AMD's data-center growth trajectory.
At the time of this announcement, AMD was trading at $551.75 on NASDAQ in the Technology sector, with a market capitalization of approximately $893.8B. The 52-week trading range was $141.90 to $584.73. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.