AMD Shares Rise as Citi Raises Price Target to $800 on Agentic AI Growth

Advanced Micro Devices shares gained 1.7% in premarket trading on Tuesday after Citigroup raised its price target to $800 from $575 and reiterated a Buy rating. The $225 upward revision stems from Citi's projection that the global CPU market will reach $300 billion by 2030, driven by the emergence and scaling of agentic artificial intelligence. Citi analyst Atif Malik noted that autonomous AI agents drive significantly higher compute consumption than conventional chatbots, boosting demand across AMD's data center CPU and GPU offerings alongside industry peers.