By AMD stock jumped nearly 8% today, fueled by growing excitement over its lead in AI chips, fresh support from Wall Street analysts, and a broader rally in the semiconductor space.
At the time of publication, AMD stock is trading around $157.40, 7.6% up from its previous close.
AMD stock surge came as the company has been steadily building momentum in the AI hardware space, and it’s starting to show.
While Nvidia still dominates the conversation, AMD’s MI300X and the soon-to-arrive MI350 are gaining real traction.
What’s more, major names like Meta, Microsoft, and OpenAI have already started adopting these chips, a strong signal that AMD’s offering is resonating where it counts.
These companies aren’t just experimenting; they’re putting AMD hardware into real-world, large-scale AI workloads.
Off the back of these developments, AMD’s leadership recently outlined a goal to hit $5 billion in AI-related revenue by 2025.
It’s a bold projection, but it doesn’t feel out of step with the direction the industry is heading.
With demand for AI infrastructure continuing to grow and enterprise spending on data centers accelerating, the target may be more realistic than it first appears.
AMD stock surge after plans to export MI308 chips to China
AMD is set to resume shipments of its MI308 chips to China, after receiving word from the US government that the sales will be allowed to move forward, a move that closely mirrors what happened recently with Nvidia’s semiconductor exports.
As per CNBC, an AMD spokesperson confirmed on Tuesday that the US Commerce Department has agreed to begin reviewing license applications tied to the MI308.
It’s a notable shift, considering how firm the export rules had been in recent years.
The decision signals a change in tone of the administration, which had taken a hard line on chip exports to China.
It also comes amid signs of easing tensions between Washington and Beijing, not to mention a high-profile meeting last week between Nvidia CEO Jensen Huang and former President Trump.
What analysts say?
Analysts have been quick to rally behind AMD, adding more fuel to the stock’s recent surge.
HSBC upgraded the stock to a ‘Buy’ and raised its price target to $200, pointing to growing adoption of AMD’s AI chips and an expanding customer base that now includes some of the biggest names in tech.
Barclays followed suit, lifting its target from $160 to $180 while reiterating an ‘Overweight’ rating. The firm cited AMD’s improving position in the AI market and strong interest from hyperscalers as key drivers.
Jefferies also stayed bullish, calling AMD “firmly second in the AI race” behind Nvidia.
On the other hand, Goldman Sachs remains more measured, holding its ‘Neutral’ rating with a $140 target, suggesting there’s still some caution around how much of the AI momentum is already priced in.
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