• Advanced Micro Devices Inc. is trading 3% up at $522.46 following a definitive agreement with Rackspace Technology Inc. to deploy an initial 30 megawatts of AMD-powered AI compute across Rackspace's global data centers between late 2026 and 2028.
  • Investors are also reacting to Bernstein raising AMD's price target to $600 from $525, maintaining an Outperform rating, citing strong AI chip momentum.
  • The move signals renewed investor confidence in AMD's fundamental AI and data center growth narrative after a previous session's sharp pullback.