AMD Stock Hits Record High on AI Demand and Analyst Upgrades

Advanced Micro Devices stock surged to a new all-time high on Monday, driven by strong demand for its artificial intelligence chips and a broader rally in semiconductor shares. The stock traded as high as $604.25 and closed near $603, marking a significant jump from its previous close of $559.82. The move pushed AMD's market capitalization above $900 billion. The rally was fueled by the company's dominant position in the AI infrastructure buildout. AMD's Data Centre segment reported second-quarter fiscal 2026 revenue of $6.72 billion, a 107% increase year-over-year, which accounted for about 58% of its total quarterly revenue of $11.54 billion. The company has also guided for third-quarter revenue of approximately $13 billion, signaling continued momentum. Wall Street analysts have largely supported the stock's advance. Piper Sandler recently initiated coverage with an Overweight rating and a $600 price target, citing strong demand for both CPU and GPU products. Stifel maintained its Buy rating with a $635 target, expressing confidence in AMD's server CPU position. The stock now carries a consensus Buy rating with an average price target around $604.