AMD Shares Surge 13% Following Oppenheimer Upgrade and Google Cloud Partnership
Advanced Micro Devices (AMD) saw a significant stock price increase of 13.26%, closing at $508.58. The rally was driven by an upgrade from Oppenheimer, which assigned the stock an 'outperform' rating with a $600 price target, and news that Google Cloud is utilizing AMD's fifth-generation EPYC CPUs to power its TPU 8tx systems. The surge comes amid shifting sentiment in the semiconductor sector. While most chipmakers saw gains, Nvidia (NVDA) declined over 4% due to uncertainty surrounding CEO Jensen Huang. In contrast, AMD continues to show strength in its data center segment, which recently reported a 97% year-over-year revenue increase, supporting an optimistic AI growth outlook for the coming year.
Tickers: $AMD $GOOG $GOOGL $INTC $NVDA
Topics: AI Data Centers Cloud Computing Semiconductors Stock Upgrades
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