"AI Optimism Drives AMD Stock Soar Toward Record Highs"

AMD's stock is approaching its record high as it surged over 7% on Tuesday, driven by growing optimism about its prospects in artificial intelligence. Analysts are bullish on AMD's server business and expect increased demand for its MI300X accelerator for AI applications, with potential customers including Microsoft, Meta Platforms, and Oracle. KeyBanc Capital Markets analyst John Vinh raised his price target for AMD shares, citing a 24% upside potential, while chip stocks like Nvidia and Micron Technology also saw gains amidst a broader rally in the semiconductor industry.