Global Markets See Strong Rise in AMD Shares

Shares of Advanced Micro Devices (AMD) rose 7.5% after Goldman Sachs raised its price target to $640 from $450, maintaining its "buy" recommendation. Goldman Sachs viewed the recent decline as an investment opportunity rather than the start of a downward trend.

Several factors boosted investor confidence, most notably the stock's inclusion on Citi's "positive watch" list and the move by Japanese company Turing to migrate some of its AI workloads from Nvidia chips to AMD accelerators, signaling the company's expansion into the AI ​​infrastructure market.

Conversely, reports indicating that Nvidia's competing platform is delayed until 2028 further bolstered AMD's chances of capitalizing on the growing demand for AI solutions in the coming years.

The economic environment also provided support, as the US jobs report showed weaker-than-expected data, reinforcing expectations of stable interest rates and supporting technology stocks and growth.

Thanks to these factors, AMD's stock rose to around $556.6, as investors awaited the company's financial results due in early August.