AMD Stock Hits All-Time High After Multi-Billion Anthropic Deal

Advanced Micro Devices, Inc (AMD) stock price hit an all-time high of $561 in the pre-market hours. The upswing came on the heels of a multi-billion deal between AMD and Anthropic. According to a report by the Wall Street Journal, the two companies have signed a deal for “tens of billions of dollars’ worth of artificial-intelligence servers.”

On the other hand, chip maker will invest $5 billion in Anthropic. Let’s discuss where AMD stock price could go next. Source: Yahoo Finance Will AMD Stock Continue To Hit New All-Time High Prices After The Anthropic Deal?

Source: The Enterprise World AMD stock price has seen quite the ride over the last year. The asset has hit multiple peaks and is one of the biggest beneficiaries of the ongoing AI boom. AMD’s stock price is expected to continue rising over the coming weeks, given that the company will reveal its quarterly earnings reports in early August.

Experts anticipate stellar revenue, following the same pattern as the first quarter of this year. Wall Street to report Q2 revenue of roughly $11.3 billion.

Hitting this target would deliver a near 47% year-over-year increase. Wall Street analysts have become increasingly bullish on AMD over the last few years. Bank Of America recently reiterated its stock price target for AMD to $620.

UBS and Cantor Fitzgerald raised their price target to $700, while KeyBanc raised their target to $725. An increasing number of Wall Street analysts have raised their stock price target beyond the $600 mark. AMD is also also expected to greatly benefit from the coming of agentic AI.

Unlike generative AI that relies on GPU (Graphic Processing Unit) power, agentic AI focusses more on CPU (Central Processing Unit) power. AMD is in a unique position because it manufactures both GPUs and CPUs. Also Read: Micron Stock Made Millionaires: $10,000 Grew to Over $8 Million Given the bullish developments around AMD, there is a high chance that the company’s stock will maintain its upward momentum over the