AMD offered some relief to investors as the company further discussed its artificial-intelligence roadmap Tuesday, but there remain many unknowns.
Advanced Micro Devices Inc. offered some relief to investors as the company further discussed its artificial-intelligence roadmap Tuesday, but there remain many unknowns.
“In... Advanced Micro Devices Inc. offered some relief to investors as the company further discussed its artificial-intelligence roadmap Tuesday, but there remain many unknowns. “In addition to strong traction in Genoa, the company further reiterated MI300 is sampling now and on track for launch and ramp in [the fourth quarter],” Cowen & Co. analyst Matthew Ramsay wrote after the report, referring to the company’s new AI chip.
“We had thought AMD’s AI products would be margin dilutive, but the company stated it should be margin accretive,” he wrote, as he raised his rating on the stock to buy from neutral and lifted his target price to $136 from $120. “We also thought investors would eventually tire of the expensive valuation of AMD stock and we were wrong on that count as well.
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