AMD shares climbed after a wave of Wall Street upgrades injected fresh confidence into the AI chip sector. The standout move came from Citi, which upgraded AMD to a Buy rating and set a $575 price target, according to CryptoBriefing.
The bank's bullish call rests on a striking projection: the CPU market will grow from $29.3 billion to $131.5 billion by 2030. Citi attributes that nearly fivefold expansion to surging demand from agentic AI — systems that can autonomously take actions, not just answer questions. As businesses race to deploy these more capable AI agents, the hardware required to run them, including high-performance processors, is expected to scale dramatically.
AMD, long considered a distant second to Nvidia in the AI chip race, has been aggressively building out its data center CPU lineup. Citi's upgrade signals that analysts believe AMD is well-positioned to capture a meaningful share of that projected growth.
StocksToTrade reported the broader trend as Wall Street "supercharging" AI price targets across the sector, reflecting a consensus that enterprise investment in AI infrastructure remains in an early, expansionary phase.
If Citi's forecast holds, the AMD upgrade is less about one stock and more about a signal that the AI hardware build-out still has years of runway ahead.