CLSA Raises Advanced Micro Devices (NASDAQ: AMD) Price Target Amid Bullish AI Outlook

• CLSA maintained its Outperform rating on Advanced Micro Devices (NASDAQ: AMD) and raised its price target to $710 from $575.
• AMD shares closed 5.9% higher at $505.74 following an optimistic presentation about artificial intelligence at Citi’s 2026 Global TMT Conference.
• Management said AMD’s total addressable market (TAM) could reach between $2 trillion and $3 trillion by 2030, supported by growth in data-center processors and AI accelerators.

On September 9, 2026, CLSA analyst Bhavtosh Vajpayee maintained an Outperform rating on Advanced Micro Devices (NASDAQ: AMD) and increased the firm’s price target to $710 from $575. The higher target reflects optimism surrounding AMD’s MI450-series AI accelerators and its potential data-center growth.

Advanced Micro Devices (NASDAQ: AMD) designs high-performance computing and graphics products. It competes with companies such as Intel (NASDAQ: INTC) in central processing units and NVIDIA (NASDAQ: NVDA) in graphics processors and AI accelerators.

The analyst action followed AMD’s presentation at Citi’s 2026 Global TMT Conference on September 8. During the event, Chief Financial Officer Jean Hu outlined an optimistic outlook for the company’s AI and data-center businesses. AMD shares subsequently closed 5.9% higher at $505.74, extending the stock’s strong year-to-date performance. 

A central part of the presentation was AMD’s expanding market opportunity. Management said the company’s total addressable market could reach between $2 trillion and $3 trillion by 2030. This should be presented as a projected range rather than a firm $3 trillion forecast.

AMD also indicated that its data-center revenue could approximately double to $70 billion in 2027. Revenue from AI graphics processors is expected to account for the low $40 billion range, with server processors contributing the remainder. Management believes the AI infrastructure investment cycle remains in its early stages. 

The company expects initial production shipments of its MI450-series accelerators to begin in the third quarter of 2026, followed by a larger ramp later in the year and into 2027. AMD has identified Meta Platforms (NASDAQ: META), OpenAI, and Anthropic as major customers or strategic partners for the platform. Anthropic, for example, has agreed to deploy up to two gigawatts of AMD Instinct MI450-series GPUs, beginning with one gigawatt in the first half of 2027. 

At the September 8 close, AMD shares traded at $505.74, giving the company a market capitalization of approximately $825 billion. Although the outlook is bullish, achieving these projections will depend on the timely rollout of the MI450 platform, customer deployments, supply availability, and AMD’s ability to compete effectively in the rapidly expanding AI accelerator market.