Movement Alert|Advanced Micro Devices Rises 3.05% in Regular Trading, Semiconductor Sector Rallies as Saudi AI Computing Infrastructure Goes Live

Market Focus
Sep 04

On September 4, Advanced Micro Devices rose 3.05% in regular trading, trading at $470.07 per share, with turnover of $1.621 billion. The gain was supported by a broad semiconductor sector rally and the formal launch of AMD-powered AI computing infrastructure in Saudi Arabia.

The semiconductor sector saw collective strength on the day, with Marvell Technology up 4.81%, Micron Technology up 4.05%, Intel up 3.29%, and NVIDIA up 2.48%, providing a strong tailwind for AMD. On the news front, AMD, in partnership with Cisco and Saudi AI company HUMAIN, officially brought online AI computing infrastructure based on AMD Instinct MI355X GPUs and EPYC CPUs. The facility delivers training and inference services via a GPUaaS model, backed by Saudi Arabia's Public Investment Fund, with plans to scale to 250 megawatts by next year and a long-term target of 1 gigawatt by 2030.

Separately, Raymond James recently upgraded AMD to Strong Buy with a $641 price target, citing confidence in the company's accelerating server CPU market share gains against Intel. AMD's consensus analyst target price stands at approximately $625.35.

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