"All after CEO Lisa Su said AMD could achieve "double-digit" share of the data center AI market over the next three to five years. Right now, that market is dominated by Nvidia, which holds about 90% of that market. Fueling momentum, Wells Fargo just raised its AMD price target to $345 and assigned an overweight rating. That's thanks to AMD gaining market share and the CEO's prediction for compound annual revenue growth of about 35%, as well as insatiable demand for AI chips."
"In addition, she said AMD's data center business is expected to grow at around 80% per year, and is on track to hit billions of dollars of sales by 2027. By 2030, AMD expects AMD data center revenue to hit $1 trillion per year. AMD isn't the only one seeing action this morning. Nvidia (NASDAQ: NVDA): TD Cowen reiterated its buy rating on the tech giant on the likely strength of the Blackwell Ultra uplift."
AMD shares jumped after CEO Lisa Su projected a double-digit share of the data-center AI market within three to five years, against Nvidia's current dominance. Wells Fargo raised AMD's price target to $345 and assigned an overweight rating, citing market-share gains, a projected ~35% compound annual revenue growth, and strong AI chip demand. AMD expects its data-center business to grow roughly 80% annually, reach billions in sales by 2027, and projects $1 trillion per year by 2030. Analysts also reiterated buy ratings and raised targets for Nvidia, and KeyBanc upgraded AT&T to overweight.
Read at 24/7 Wall St.
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