AMD Stock Rises On New AI Chips For Business PCs – Investor’s Business Daily

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Advanced Micro Devices (AMD) on Tuesday introduced a new series of processors for commercial mobile and desktop AI PCs. AMD stock rose on the news.




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The Santa Clara, Calif.-based company said its latest chips will provide businesses with the most advanced x86 processors for AI PCs.

AMD’s new Ryzen Pro 8000 series and 8040 series processors will be available later this quarter. The 8000 series are for desktop PCs while the 8040 series are for notebook PCs.

Commercial PCs equipped with the new Ryzen AI-enabled processors will offer next-generation performance for artificial intelligence-enabled content creation, collaboration, and data and analytics workloads, AMD said in a news release.

AMD Stock Rises On Chip News

In morning trades on the stock market today, AMD stock rose more than 1% to 162.86.

“Our latest Pro series processors set a new standard for premium computing experiences and help businesses deploy AI capabilities across their PCs with leadership performance and security,” Jack Huynh, senior vice president and general manager for AMD’s computing and graphics group, said in a statement.

AI PCs with the new processors are coming from HP (HPQ), Lenovo and others, AMD said.

Meanwhile, Evercore ISI analyst Mark Lipacis initiated coverage of AMD stock with an outperform rating and price target of 200.

“We see AMD as a beneficiary of the tectonic shift in computing to parallel processing,” Lipacis said in a client note late Monday. As such, AMD should gain share in server central processing units and AI accelerators for data centers, he said.

Also, AMD stock is on the IBD Tech Leaders list.

Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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