Goldman Sachs Lifts AMD Target to $640 as Shares Extend Record Run

AMD shares surged nearly 10% after Goldman Sachs raised its price target to $640 from $450, citing accelerating AI infrastructure momentum and share gains versus Nvidia. The move follows Wells Fargo’s June 30 upgrade to $615 and Cantor Fitzgerald’s $700 target, which drove the stock to fresh all-time highs above $580 and pushed market capitalization past $900 billion. Analysts now forecast server CPU revenue jumping 68% to $16 billion in 2026, with further strong growth projected through 2028 as AI demand broadens from GPUs into high-core-count EPYC processors.