Skip to navigationSkip to main contentSkip to right columnIan CooperTue, June 23, 2026 at 8:20 PM GMT+2 4 min read2d illustration of Cloud computing by Blackboard via ShutterstockAdvanced Micro Devices (AMD) has been explosive. In fact, since April, AMD has run from a low of about $200 to a recent high of $562.99, with further potential upside likely.www.barchart.comFirstly, there's massive AI accelerator demand. Its MI300 and next-generation AI accelerators are gaining traction among hyperscalers, cloud providers, and other tech giants. Secondly, investors are betting that AI spending is still in the early innings, with data center operators expected to spend hundreds of billions of dollars on AI infrastructure over the next several years. And thirdly, Wall Street has also become increasingly bullish on the stock. Citigroup recently upgraded AMD to a "Buy" rating and raised its price target to $575, citing the company's growing opportunity in the graphics processing unit (GPU) market. Meanwhile, Bank of America increased its price target to $560 while maintaining a "Buy" rating, and Bernstein raised its target to $525 with an "Outperform" rating.More News from BarchartD-Wave Just Unveiled a Major Quantum Breakthrough. QBTS Stock Looks Ready for Another Surge.