BUZZ - Oppenheimer upgrades rating, says AI data center growth accelerating, AMD stock rises

November 9 - ** Chipmaker Advanced Micro Devices (AMD.O) shares rose 8% to $485.5

** Oppenheimer upgraded AMD's stock rating from "Neutral" to "Outperform" after a bullish earnings call

** The new price target of $600 indicates a further 33.6% upside from the previous closing price

** The brokerage expects AI-driven data center revenue to grow 135% year-over-year next year; believes that before the end of 2028 there is limited risk in terms of politics (link), electricity, or data center construction

** CEO Lisa Su said last week that data center chips (link) will account for more than 80% of sales next year and will drive most of the company's growth

** "Demand for high-performance computing remains robust" — Oppenheimer

** Out of 56 analysts, 32 give an average rating of "Buy", with 16 recommending "Strong Buy" and 8 suggesting "Hold"; the median price target is $649 — LSEG data

** Including intraday swings, the stock has gained 129% year-to-date

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