AMD Shares Rise as TD Cowen Reiterates Buy Rating and $675 Target

Advanced Micro Devices shares gained roughly 3.6% after TD Cowen analyst Joshua Buchalter reaffirmed a Buy rating and a $675 price target on the stock. TD Cowen pointed to accelerating demand for agentic artificial intelligence and production inference workloads, emphasizing that agentic AI workflows heavily utilize central processing units. The bullish commentary follows AMD doubling its estimated total addressable market to $220 billion and forecasting a 70% surge in AI data center CPU sales by 2027.