AMD receives bullish outlook from Citi amid AI and data-center growth

Citi has reaffirmed its ‘Buy’ rating for Advanced Micro Devices (AMD), maintaining a price target of $575. The bullish outlook follows discussions with AMD management at the Citi Global TMT Conference, focusing on momentum in AI, data-center, and server CPU sectors.

AMD has significantly increased its estimate for the server CPU total addressable market, forecasting it to reach $220 billion by 2030. The company expects its data-center business to more than double next year due to rising investment in AI infrastructure. Key upcoming catalysts include the launch of the MI450 AI accelerator this quarter and strong demand forecasts for the Helios rack-scale platform.