Bank of America raises AMD price target on Anthropic-Akamai CPU deal
Bank of America raised its price target for AMD stock to $720 from $620, citing the $11.6 billion AI cloud deal between Anthropic and Akamai (AKAM) as a boost for server CPUs in the agentic AI era. The firm expects the server CPU market to grow from $61 billion in 2026 to $211 billion by 2030, driven by increased compute demand from AI agents. AMD shares surged 1.8% in pre-market trade, reaching…
Key points
- Bank of America raised AMD’s price target to **$720** from **$620** due to Anthropic-Akamai deal
- Server CPU market projected to grow from **$61B in 2026** to **$211B by 2030**
- AMD stock hit record high above **$629**, AKAM jumped nearly **20%** after deal
BofA also adjusted its earnings estimates for AMD by 2% for 2027 and 3% for 2028, attributing the shift to broader AI-driven infrastructure demand. AMD’s market cap crossed $1 trillion earlier this week, reflecting rising investor confidence in AI-driven chip demand. The firm notes that AI agents like Meta’s Muse require compute across broader systems, benefiting CPU makers like AMD, Intel, and Arm Holdings.
The story so far
2 episodes →- Bank of America raises AMD price target on Anthropic-Akamai CPU dealthis story
AMD Stock Gets A Price Target Hike With Anthropic-Akamai Deal Strengthening CPU Case In Agentic AI, BofA Says
finance.yahoo.com · 25 September 2026Loading the full article…
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2sources- 1 Agentic AI Chip Stock to Buy and 1 to SellPress · fool.com ·
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