Mizuho analyst Vijay Rakesh reiterated an Outperform rating on Advanced Micro Devices. Rakesh raised the price target to $515 from $415. This revision signals confidence in AMD’s growth within the AI and data center markets.
Zyphra announced a partnership to offer AMD Instinct MI355X GPU capacity through its cloud platform. The collaboration expands Zyphra's AI infrastructure offerings using AMD hardware.
AMD shares pulled back on May 12 as investors took profits. The stock reached an all-time high on May 11 following a blockbuster first-quarter earnings report. Trading indicates a consolidation phase after a significant year-to-date rally driven by AI infrastructure spending.