Bank of America and Citi raise AMD’s price targets to $560 and $575, citing AI-driven server CPU market expansion and GPU upside.
Bank of America raised its price target for Advanced Micro Devices (NASDAQ:AMD) to $560 from $500 and maintained a Buy rating, citing a revised 2030 server CPU total addressable market forecast of over $170B. The firm projects nearly five-times growth and a 37% compound annual growth rate from 2025-30, driven by agentic AI demand.
Citi followed, upgrading AMD to Buy with a $575 target, up from $460, highlighting unpriced GPU upside and AMD’s emergence as a second source in the GPU market. Citi noted AMD’s potential to secure significant share at Meta, though the market still views it primarily as a CPU player.
AMD also announced a GBP 2B investment in the UK over five years to accelerate AI innovation, reinforcing its commitment to AI-driven growth.