Advanced Micro Devices, Inc. stock rose 1% to $544.98 in the overnight session ahead of Friday as its Advancing AI conference wrapped up on Thursday, with analysts turning more optimistic after product announcements and the company's bullish outlook for the CPU and AI markets. CEO Lisa Su unveiled the Helios rack-scale AI system powered by the new Instinct MI455X GPU and sixth-generation EPYC Venice CPUs, announced partnerships with OpenAI, Anthropic, Microsoft, Meta, and Oracle, and projected the total computing market will expand to $2 trillion by 2030 from an estimated $365 billion in 2025. The product launches position AMD to compete directly with Nvidia's high-end rack systems in the expanding AI infrastructure market.
The stock advanced toward its all-time high of $580.91 hit on June 30. AMD stock had dropped 2.3% in Thursday's regular session, pressured by a broad selloff in the stock market.
AMD Launches Helios Rack-Scale AI System at Advancing AI 2026 Conference
At its Advancing AI 2026 conference, AMD unveiled a sweeping expansion of its AI infrastructure strategy, headlined by the launch of the Helios rack-scale AI system, which competes with Nvidia's high-end rack systems.
At the keynote, CEO Lisa Su announced that the Helios system, powered by the new Instinct MI455X GPU and sixth-generation EPYC "Venice" CPUs, is in "full production" and slated to ship by the end of the third quarter.
Su detailed a multi-year AI roadmap through 2030 and announced a partnership with Cerebras. The company also announced expanded collaborations with major AI players including OpenAI, Anthropic, Microsoft, Meta, and Oracle.
CEO Lisa Su Projects Total Computing Market to Reach $2 Trillion by 2030
CEO Lisa Su projected the total computing market will expand to $2 trillion by 2030 from an estimated $365 billion in 2025. She said AI accelerators would account for $1.4 trillion of that opportunity, while central processing units (CPUs) would contribute another $220 billion—a market where AMD has long competed with Intel and is now also facing competition from Nvidia.
Jefferies Raises AMD Price Target to $640 Following Conference Announcements
Jefferies raised its price target on AMD to $640 from $515 while reiterating its 'Buy' rating. The new target implies about 19% upside from Thursday's closing price, well above the roughly 1% upside implied by the consensus target.
The announcements at the conference reinforced AMD's clear leadership in the server market, with two more marquee customers and a roadmap that potentially puts the company ahead of Nvidia, the investment research firm said in a note. Both Anthropic and OpenAI talked about a quick ramp-up of Helios, the firm added.
"This is a very different AMD and shouldn't be underestimated," Moor Insights & Strategy CEO Patrick Moorhead said in an X post. "The show felt different. More like a leader and less like a follower just happy to be in the big game."
Stocktwits Sentiment Shifts to Bullish Ahead of Q2 Earnings
On Stocktwits, retail sentiment for AMD shifted to 'bullish' as of early Thursday, from 'neutral' the previous day. "$AMD This is heading towards $590+ on or before its ER," a trader wrote.
Another said, "$AMD don't understand all the technical jargon, but I definitely get the gist that this is going much higher in 2 weeks."
AMD is scheduled to report its second-quarter results on Aug. 4. Rival Intel on Thursday reported second-quarter sales and profit as well as third-quarter targets higher than analysts' estimates.
FAQ
What did AMD announce at its Advancing AI 2026 conference?
AMD announced the Helios rack-scale AI system powered by the new Instinct MI455X GPU and sixth-generation EPYC "Venice" CPUs at its Advancing AI 2026 conference on Thursday. CEO Lisa Su stated the system is in full production and slated to ship by the end of the third quarter. The company also announced expanded collaborations with OpenAI, Anthropic, Microsoft, Meta, and Oracle.
Why did Jefferies raise its AMD price target?
Jefferies raised its AMD price target to $640 from $515 following the Advancing AI 2026 conference announcements. The investment research firm stated the announcements reinforced AMD's clear leadership in the server market, with two more marquee customers and a roadmap that potentially puts the company ahead of Nvidia.
When is AMD scheduled to report its second-quarter earnings?
AMD is scheduled to report its second-quarter results on Aug. 4.
