Shares of AMD rose about 2.7% as Citi raised its price target for the stock to $800 from $575, citing growth in CPU demand tied to Meta's Muse AI agent. The agent has passed 5 million downloads and runs on AMD silicon, which Morgan Stanley predicts could represent 20% of the company's chip sales in 2026. Citi estimates the market for 'always-on' agents may expand from $29B in 2025 to $300B by 2030.
Tuesday, October 20, 2026
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AMD to Invest Tens of Billions in Global Supply Chain for AI Demand
Tech14 days ago
The chipmaker is scaling its manufacturing partnerships to address a persistent shortage of artificial intelligence processors. CEO Lisa Su announced AMD will invest 'tens of billions' of dollars throughout its global supply chain to satisfy compute demand that continues to exceed current capacity. The company is coordinating with production partners, including TSMC, Foxconn, Samsung, and SK Hynix, to substantially increase its chip supply by 2027 while addressing ongoing industry constraints in memory.
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