BofA raises AMD PT to $720 (from $620) and reaffirms Buy, citing increased demand for CPU-intensive cloud infrastructure driven by AI workloads.

Let's take a look at AMD first, Lisa Su was here this week, wasn't she? You were on the platform with Melania and the " Women in Business" panel that was held here.

Our focus has shifted to AMD. We have a positive recommendation, or rather a positive confirmation and price target increase from Bank of America for AMD today. The stocks are now up by nearly 9/10 of a percent, gaining some momentum in early trading.

Bank of America raised its target price to 720, up from 620. This implies a potential upside of over 10% from yesterday's closing levels . They have a " buy" rating, and they have reaffirmed this rating for AMD shares.

A large part of this relates to the Anthropic and Akamai deal. Why is this important for AMD? This means they need greater computing power.

Bank of America sees the deal as evidence that the era of proxy AI may boost demand for CPU- intensive cloud infrastructure . This will obviously benefit AMD given its strong presence in the central processing unit (CPU) market.

In other words, the increasing workload of artificial intelligence will expand opportunities beyond just GPU providers , so the investment thesis from Bank of America's perspective is that AMD will benefit from this shift .

So, once again, they raise their target price. They also raised AMD's earnings estimates by 2% for 2027 and 3% for 2028. It's a big week, Nicole, as you mentioned, for Lisa Su.

She was here at the stock exchange ringing the opening bell earlier this week as part of the group alongside the First Lady, following last night's state dinner with President Trump and Chinese President Xi Jinping.