10 AI News You Should Not Miss

4. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 107

Advanced Micro Devices, Inc. (NASDAQ:AMD) specializes in creating semiconductors, providing processors and graphics solutions for gaming, data centers, and embedded systems, with an emphasis on high-performance computing tailored for AI use cases.

On January 21, Citi lowered AMD’s price target to $175 from $200 while maintaining a Buy rating ahead of its Q4 earnings. The firm expects consensus estimates for semiconductors to drop due to weaker demand in PC, automotive, and industrial markets. However, it expects strong demand in data centers, AI, and communication segments. Citi is optimistic about AMD, as it mentioned potential upside from AI sales, and foresees eventual inventory replenishment in the analog market after significant sales declines.