Citi analyst Atif Malik just handed AMD one of the most aggressive price targets on Wall Street. The firm upgraded Advanced Micro Devices from Neutral to Buy on June 6, lifting its target from $460 to $575.
The thesis is straightforward: the market for CPUs is about to get a lot bigger, and AMD is positioned to grab a meaningful chunk of it. Citi projects the total addressable market for CPUs will balloon from $29.3 billion in 2025 to $131.5 billion by 2030. That’s a 35% compound annual growth rate.
The agentic AI angle
This isn’t just a generic “AI is hot” call. Citi is making a specific bet on agentic CPUs, processors designed for AI systems that can operate autonomously rather than just respond to prompts.
The bank forecasts demand for agentic CPUs alone will reach $59.4 billion. That’s nearly half of the projected $131.5 billion total CPU market by 2030.
