AMD and Intel shares climbed to new all time highs Friday as Wall Street continued to reward chipmakers tied to artificial intelligence infrastructure and rising demand for central processing units.
AMD rose about 9% to roughly $443, lifting its market capitalization to about $720 billion, while Intel gained about 14% to around $124, pushing its market value near $627 billion at press time.
The rally followed AMD’s stronger than expected first quarter results earlier this week. The company reported revenue of $10.3 billion, up 38% from a year earlier, while data center revenue jumped 57% to $5.8 billion, driven by demand for AMD EPYC processors and the continued ramp of AMD Instinct GPU shipments.
Wall Street analysts have turned increasingly bullish on AMD after the report, with Reuters noting that at least 20 brokerages raised their price targets following the company’s forecast and its expanding exposure to AI infrastructure demand.
AMD CEO Lisa Su told CNBC this week that agentic AI is accelerating demand across the compute market. “Agents are really driving tremendous demand in the overall AI adoption cycle, and we’re very excited to be in the middle of it,” Su said during an interview on CNBC’s Squawk on the Street.
