AMD Shares Surge 13.26% Following Oppenheimer's Rating Upgrade and Google Cloud Selection
The new target price for one share of the company is now $600

Support for the shares also came from AMD's announcement that its 5th-generation AMD EPYC processors are being used in Google Cloud's TPU 8tx. According to the company, this provides hardware-based confidential computing for cloud AI systems.
In the report from one of the world's leading semiconductor and microelectronics manufacturers for the third quarter, revenue from the data center segment grew by 97% year-over-year. The company also expects revenue growth of 80% next year, which improved assessments of its AI segment's prospects.
On Monday, most chipmaker stocks rose in value, though Nvidia traded in the opposite direction. Investors continue to evaluate demand for AI infrastructure and await earnings reports from semiconductor companies next week.





