Advanced Micro Devices Inc. (NASDAQ: AMD) closed on Friday, May 22 at $449.59, having traded within a day range of $431.60 to $451.20 in what proved to be a strong session for the chipmaker.
The stock’s 52-week range of $107.67 to $469.22 means AMD has surged over 300% from its annual low and is approaching all-time high territory.
The day’s primary catalyst was commentary from CEO Lisa Su at a conference in Taipei, where she outlined AMD’s strategy for AI hardware and discussed the company’s partnerships with key manufacturing and packaging partners.
AMD confirmed this week that Amkor Technology is working with the company on advanced packaging for AMD’s next generation of AI chips, a critical step in maintaining performance competitiveness with NVIDIA.
Analysts at Bank of America named AMD as one of their top two AI chip picks alongside NVIDIA, citing demand from hyperscalers for alternative GPU and accelerator solutions.
The chip stock rose nearly 4% on the day according to sector data, outperforming the broader Technology Equipment index which was up around 1.2%.
AMD’s Q1 2026 revenue results beat expectations, and the company has guided for continued data centre growth as enterprises build out AI inference infrastructure.
Cathie Wood’s ARK Invest was noted this week for significant trades involving AMD as the firm repositioned across its technology-focused ETFs.
The consensus analyst price target for AMD stands at $472.17, implying approximately 5% upside from Friday’s close, with 41 analysts carrying buy ratings and zero sell recommendations.
Investors are also watching AMD’s next earnings report, scheduled for August 4, 2026, which will be the first full read on second-quarter AI data centre revenue.
