Quick overview

---

Advanced Micro Devices shares surged nearly 10% to lead S&P 500 gainers on Monday after Piper Sandler raised its price target for the chipmaker’s stock from $ 120 to $ 140 and maintained its ” overweight ” rating. This action follows AMD’s announcement of next-generation server rack architecture at the ” Advancing AI ” event.

Analysts at Bank of America predict that AMD and Amazon Web Services will unveil a partnership. Advanced Micro Devices (AMD) shares soared nearly 10% to top S&P 500 gainers on Monday after Piper Sandler analysts raised their price target for the stock following the chipmaker’s “Advancing AI” event. Piper upheld its “overweight” rating for AMD stock and increased its target from $125 to $140.

, Piper’s target implies a premium of about 10% with AMD shares trading at about $127. The company’s newly disclosed Helios server rack architecture, described as “pivotal,” excited the analysts.
AMD highlighted its collaborations with several companies, including Microsoft (MSFT), Oracle (ORCL), Meta Platforms (META), and ChatGPT manufacturer OpenAI.

Analysts at Bank of America speculate on the announcement of yet another notable partner, Amazon (AMZN). According to BofA, Amazon Web Services (AWS) was “a key sponsor for the event. “ The American Bank highlighted that AWS usually announces new engagements during its events; therefore, a future reveal is probable.

BofA maintained its price target at $130 and its rating at “buy” after the event.