Barclays raises Advanced Micro Devices’ price target by 33% citing strong CPU demand driven by agentic AI expansion.
Barclays increased its price target for Advanced Micro Devices (NASDAQ:AMD) to $665 from $500, reflecting a 21.1% upside potential. The firm cited narrowing CPU-to-GPU ratios as CPU demand surges amid rapid growth in agentic AI applications.
The upgrade follows AMD’s deepening ties to AI infrastructure buildout, with analysts growing more constructive on the sector. Mizuho also raised its AMD target to $615 from $515, highlighting supply constraints and strong server-related demand into 2027, though memory and CPU availability may limit growth later in 2026.
AMD has expanded its AI infrastructure footprint beyond hyperscale deployments, positioning itself as a key beneficiary of the shift. The firm’s stock has gained support from hedge funds and Wall Street amid the broader AI-driven semiconductor rally.