Evercore ISI and Citi lift AMD price targets after AI workloads shift from training to inference, boosting hyperscaler interest.
Evercore ISI raised Advanced Micro Devices’ (NASDAQ:AMD) price target to $579 from $358, citing a transition in AI workloads from training to inference by year-end. The shift focuses on cost-per-token, ROI, and TCO, increasing demand for alternative accelerators and homegrown ASICs among hyperscalers.
AMD reported 95.1% year-over-year quarterly earnings growth and 37.8% revenue growth, outperforming the S&P 500 by 270.67% in one-year returns. Citi also revised its price target to $460 from $358, projecting a 35% annual CPU market growth to $132 billion by 2030.
The upgrades reflect confidence in AMD’s positioning amid evolving AI infrastructure demands, though Citi maintained a Neutral rating.