Key Points Advanced Micro Devices recently announced a huge multiyear deal with OpenAI that will help grow its chip business. Intuit's trusted software can become much more crucial to tax and finance professionals with the help of AI assistants. Workday recently announced a couple of acquisitions that will help it automate more tasks for its customers. 10 stocks we like better than Advanced Micro Devices › Do you want to invest in some underrated artificial intelligence (AI) stocks? The ones that ...

Core Viewpoint - Advanced Micro Devices (AMD) shares increased by 9.8% following significant product announcements related to AI, with positive industry data in the PC sector contributing to this rally [1]. Group 1: Product Announcements and Market Response - AMD introduced new Instinct MI350 accelerators and upcoming MI400 "Helios" racks, which are set to launch next year [2]. - Piper Sandler analyst Harsh Kumar noted a resurgence in demand for AMD's client business, leading to an increase in the price target for AMD shares from $125 to $140 [6]. Group 2: Market Trends and Demand Dynamics - The PC market has been experiencing a downturn, but factors such as aging pandemic-era PCs, new AI capabilities, and potential tariff-related pull-ins are expected to drive a refresh cycle [3]. - There is an anticipated recovery in AMD's data center and GPU revenue in the second half of the year, supported by the new Instinct MI350 chips and "Helios" rack-scale systems expected in late 2025 [4]. Group 3: Competitive Landscape in AI - Questions remain regarding AMD's competitive position in the AI sector, particularly against Nvidia, which currently dominates the market [7]. - Recent product events have generated optimism about AMD's AI design progress and acquisitions, indicating growing enthusiasm among analysts [8].