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Market Sentiment Supports AMD Premarket Gain.
AMD launched Instinct MI350P PCIe GPUs targeting AI workloads in existing data center infrastructure.
KEY POINTS
- AMD's data center revenue rose 57% year over year to $5.8 billion, mainly from AI products.
- Analyst Neil Shah identifies AMD as the only credible full-stack AI rival to Nvidia currently.
- AMD trades 92.1% above its 200-day SMA, signaling extremely extended technical momentum.
- TD Cowen raised its AMD price target to $500.00 in May, reflecting strong analyst confidence.
COMPANIES
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