AMD Stock Surges Due to Release of New AI Chips for Business PCs

Advanced Micro Devices (AMD) made waves on Tuesday with the introduction of a new series of processors designed for commercial mobile and desktop AI PCs. The Santa Clara-based company announced that its latest chips will provide businesses with the most advanced x86 processors for AI PCs.

The new Ryzen Pro 8000 series and 8040 series processors are set to hit the market later this quarter, with the 8000 series targeting desktop PCs and the 8040 series catering to notebook PCs. These processors are expected to offer next-generation performance for artificial intelligence-enabled content creation, collaboration, and data and analytics workloads.

Following the news, AMD stock saw a 2% increase, closing at 163.46. Jack Huynh, senior vice president and general manager for AMD’s computing and graphics group, expressed excitement about the new processors, stating that they set a new standard for premium computing experiences and help businesses deploy AI capabilities across their PCs with leadership performance and security.

AI PCs equipped with the new processors are already in the pipeline from major manufacturers like HP and Lenovo. Additionally, Evercore ISI analyst Mark Lipacis initiated coverage of AMD stock with an outperform rating and a price target of 200, citing the company as a beneficiary of the shift towards parallel processing in computing.

With AMD stock also making its way onto the IBD Tech Leaders list, the future looks bright for the chipmaker as it continues to innovate in the AI space. Follow Patrick Seitz on Twitter at @IBD_PSeitz for more updates on consumer technology, software, and semiconductor stocks.