AMD Jumps 195% as Stifel Sets $700 Price Target on AI Infrastructure Demand

• AMD stock gains attention as AMD AI infrastructure demand supports AMD earnings and strengthens the company’s growth outlook
• AMD AI chips are driving stronger data center demand, with revenue reaching $6.7 billion in Q2
• Stifel raised its AMD price target to $700 as AMD growth remains closely tied to continued AI infrastructure deployment

AMD stock has continued to attract mainstream attention as the rising demand for AI infrastructure continues to shape AMD’s growth outlook. Stifel has now raised its AMD price target, with the target now elevated to $700 from its earlier $635 target. The firm has also maintained its Buy rating for the stock, expecting that the company will continue to benefit from rising AMD AI infrastructure demand.

Also Read: Shiba Inu Lands on Solana as SHIB Gains 4%, How High Can the Token Go in October?

AMD Earnings Show Strong Data Center Growth

AMD’s latest report has bolstered the optimism around its stock. Per the latest stats, the company has ended up posting $11.5B in Q2 revenue, with a 50% increase from the same quarter earlier. The company’s data center revenue has now hit $6.7B, up 107% YoY, accounting for nearly 58% of its overall revenue.

Per the data shared by the unusual whales, AMD is up nearly 195% this year. Moreover, it is now one of the top ten best-performing stocks in the S&P 500

This growth has primarily been driven by the demand for AMD AI infrastructure, particularly its EPYC processors and Instinct GPUs. AMD has further shared how the company expects its data center sales to strengthen further by the second half of this year. The company’s recent partnership with Anthropic, which involves the deployment of up to 2 gigawatts of AMD Instinct MI450 GPUs, shows how the rising AI demand is strengthening the company’s overall AI business.

Also Read: Cathie Wood Says Bitcoin Is Turning Against Gold as Spot ETFs Post $241M Inflows

Stifel Raises AMD Price Target to $700

As the AMD stock narrative continues to fuel optimism around its shares, Stifel has ended up raising the AMD stock outlook for the future. Stifel’s latest price target for AMD is now $700. The firm expects AMD’s upcoming September-quarter results to exceed expectations, with its view supported by continued AI infrastructure deployment.

The firm further added how it believes that the current AI infrastructure cycle is more supply-gated rather than demand-gated. In simpler terms, this would mean that the main limitation in this arena is the availability of chips and related infrastructure rather than a lack of demand.

The higher price target issued by Stifel reflects its more bullish outlook for AMD as AI infrastructure deployment continues.

Also Read: TRON Averages 4.41M Daily Active Accounts as Justin Sun Targets 2027 Stablecoin Lead