Evercore ISI analyst Mark Lipacis raised the firm’s price target on AMD (AMD) to $144 from $126 and keeps an Outperform rating on the shares. The company’s Advancing AI event indicated that AMD is making progress on the ROCm software stack as well as in penetrating hyperscalers internal inferencing workloads, the analyst tells investors. The AMD Instinct customer list expanded from Meta (META), Oracle (ORCL) and Microsoft (MSFT) to OpenAI, xAI, Cohere, RedHat (IBM) and Humain, notes the analyst, who thinks that increased visibility on datacenter GPUs warrants a higher P/E multiple.
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