Advanced Micro Devices' (NASDAQ: AMD) news cycle gained momentum following its AI event in early June, and the share prices are following suit. The takeaway is that the MI350 line lives up to the expectation,

Shares of computer processor maker AMD (NASDAQ:AMD) jumped 6.5% in the afternoon session after Melius Research analysts upgraded the stock, citing improving prospects for the company's artificial intelligence chips.

Melius analysts expect more AI-chip sales as demand grows for running AI models and for AMD’s new offerings to attract hyperscaler and sovereign customers.