Advanced Micro Devices Inc. (AMD) has seen a surge in analyst upgrades following a new partnership with OpenAI, which entails multi-year chip supply commitments and potential equity ties. Major financial firms, including Evercore ISI, Barclays, Jefferies, and Truist Financial, have raised their price targets for AMD to between $240 and $300, continuing their bullish sentiment on the stock. Conversely, a few firms like KeyBanc and Deutsche Bank maintained Hold ratings. Since the announcement, AMD’s shares have skyrocketed by 36% this week and are up approximately 86% year-to-date. Trading volume surged as investors reacted positively to the OpenAI collaboration and the favorable analyst revisions. The overall consensus on Wall Street is categorized as Moderate Buy, with 25 Buy and 10 Hold ratings. The average price target is now $236.31, suggesting potential upside from current market levels. AMD’s growing position in the AI chip market boosts investor confidence significantly.
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