Advanced Micro Devices shares surged nearly 9% Monday after Piper Sandler raised its price target from $125 to $140, according to CNBC. The upgrade was based on strong momentum from the company’s next-gen AI chip lineup. Analysts expect AMD’s GPU business to rebound in fourth quarter as the firm moves past $800 million in charges related to new U.S. export controls. AMD unveiled its next-gen AI chips and the Helios server rack, a system built to support cloud providers and large language model developers. AMD CEO Lisa Su unveiled the new products on stage in San Jose with OpenAI CEO Sam Altman, who described them as “totally crazy.” Analysts expressed enthusiasm for AMD's product launches, highlighting the Helios rack as pivotal for the growth of AMD’s Instinct line. Piper Sandler raised AMD’s price target to $140. The stock closed above $126 on Monday, its highest level since before Trump’s tariff announcement and AMD’s chip control warning.
