Citi Lifts AMD Rating to Buy, Shares Jump 2% on AI Push
AMD•Citi raised its rating on Advanced Micro Devices to Buy, sending shares up about 2% during early Friday trading. The upgrade reflects a more bullish view of AMD’s AI-driven data center growth and gains in CPU and graphics market share.
1. Upgrade Details
Citi moved AMD’s rating from Neutral to Buy, signaling increased confidence in the chipmaker’s outlook. This follows a period of cautious stance and catalyst-watch status earlier this year.
2. Growth Outlook
Analysts cited stronger demand and improved pricing for AMD’s CPUs and graphics chips, particularly driven by AI workloads and data center deployments, as key factors behind the upgrade.
3. Stock Reaction
AMD shares rose roughly 2% in early Friday trading after the announcement, reflecting investor optimism around the company’s positioning in high-growth markets.
4. Analyst Outlook
While the upgrade is constructive, Citi notes that sustained demand and execution in AI and data center hardware remain critical for further upside potential.
