AMD shares rise 10% after analysts say they expect a 'snapback' for chipmaker

Core Insights - Advanced Micro Devices (AMD) shares increased nearly 10% following a price target upgrade by Piper Sandler due to positive sentiment around the company's latest product announcements [1][4] Group 1: Product Developments - AMD introduced its next-generation AI chips, the Instinct MI400 series, and a full-server rack called Helios, which allows for the integration of thousands of chips, targeting AI customers such as cloud companies and large language model developers [3] - The Helios rack is considered pivotal for the growth of AMD Instinct products, generating enthusiasm among analysts and industry leaders [3] Group 2: Financial Outlook - Piper Sandler raised its price target for AMD shares from $125 to $140, reflecting optimism about the company's recovery and product launches [4] - Analysts anticipate a rebound in AMD's graphics-processing units (GPUs) in the fourth quarter, coinciding with the expected resolution of $800 million in charges related to new U.S. export license requirements for semiconductors [2]