The broader risk-on tone also supported gains, with Nasdaq futures up 1.34% and S&P 500 futures rising 0.51%.AI Platform Expansion Drives SentimentInvestors are now watching whether these next-generation AI systems can translate into sustained market share gains and stronger data center revenue growth.Momentum is also building ahead of the “Advancing AI 2026” event on July 22. Investors expect updates on next-generation AI silicon, rack-scale systems and additional hyperscale cloud and AI model customers. Reports have also suggested Anthropic could be among the companies featured. The event is widely viewed as AMD’s next opportunity to demonstrate how it plans to narrow the competitive gap with Nvidia.AMD Technical AnalysisAMD remains in a strong long-term uptrend. The stock has gained 220.8% over the past 12 months and trades 75.9% above its 200-day simple moving average of $298.40 and 40.7% above its 100-day SMA of $373.13.In the near term, however, momentum has softened slightly. Shares are trading 1.2% below the 20-day SMA of $531.33 but remain 4.8% above the 50-day SMA of $500.73, suggesting the broader bullish trend remains intact despite recent consolidation.Earnings And Analyst OutlookThe countdown is on: Advanced Micro Devices is set to report earnings on August 4, 2026 (confirmed).