BlackRock’s 5 Most Important AI Stocks Right Now

2. Advanced Micro Devices Inc. (NASDAQ:AMD)

Weight in ARTY ETF: 5.03%

Number of Hedge Fund Holders: 134

Advanced Micro Devices Inc. (NASDAQ:AMD) is one of BlackRock’s 30 most important AI stocks right now. BlackRock is the largest institutional owner in the company, holding approximately 145.57 million shares, or around 8.93% of outstanding shares, according to Yahoo Finance data.

On June 30, Wells Fargo increased the firm’s target price on Advanced Micro Devices Inc. (NASDAQ:AMD) from $505 to $615. The firm also reiterated an Overweight rating on the stock, based on a strong demand for EPYC server CPU. This, along with pricing gains, supports the firm’s optimistic view.

Wells Fargo reaffirmed its revenue projections for data center GPUs, which are expected to remain above consensus estimates. Forecasts for earnings per share have also been adjusted upwards, to $13.40 and $18.75 for 2027 and 2028, respectively.

Earlier on June 29, Cantor Fitzgerald increased the firm’s target price on Advanced Micro Devices Inc. (NASDAQ:AMD) from $500 to $700, and maintained an Overweight rating on the stock. The firm noted that the ongoing AI infrastructure buildout is considered to be a generational cycle for the semiconductor segment.

Cantor Fitzgerald expects this cycle to get prolonged due to supply chain bottlenecks and anticipates industry-wide revenues to remain above prior forecasts. The revenue figures are estimated at around $3 trillion by 2029, which could possibly surpass $3.5 trillion by 2030.

Advanced Micro Devices Inc. (NASDAQ:AMD) is a multinational semiconductor company that designs high-performance computing, graphics processing units, and visualization technologies. The company also offers AI accelerators, microprocessors, embedded processors, and SoC products. The business is structured around three segments, i.e., Data Center, Client & Gaming, and Embedded.