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Shares of Advanced Micro Devices Inc. were climbing 2% on Tuesday morning after the stock was upgraded by analysts who see a growing competitive edge for the company against rival Nvidia Corp.
Truist Securities analysts upgraded AMD’s stock
AMD to buy in a note on Tuesday, citing feedback from industry contacts showing that hyperscalers, or large-scale cloud providers, are turning more to the chip maker’s technology for deployment in artificial-intelligence data-centers. The analysts boosted their price target on the stock to $213 from $173.
This post was originally published on Market Watch
