UBS Raises AMD Price Target to $700, Citing New AI Chip Customers

According to UBS, on July 15, the bank raised its 12-month price target for AMD to $700 from $670 while maintaining a Buy rating. Analyst Timothy Arcuri expects Amazon and Anthropic to become major customers for AMD's next-generation MI450X AI accelerator. AMD's stock has surged 112% over the past three months amid expanded AI data center investment.

UBS also cited easing supply constraints from Taiwan Semiconductor Manufacturing Company (TSMC) as a factor likely to boost AMD's AI chip production. The bank highlighted the Advancing AI 2026 conference scheduled for July 22-23 in San Francisco, where AMD may announce new AI products and data center strategies.