11:16 AM EDT, 05/06/2026 (MT Newswires) -- Advanced Micro Devices (AMD) is facing expanding artificial intelligence exposure for its computer chips, BofA Securities said in a note Wednesday.

The investment firm said AMD now represents about 6% of the AI total addressable market, and that figure is expected to grow toward over 10% by 2030.

BofA highlighted the AMD increased its 2030 forecast for server central processing unit total addressable market to $120 billion from $60 billion previously on "greater emerging agentic AI demand for orchestration CPU."

Meanwhile, the company has "additional 'gigawatt-scale'AI customer announcement potential"beyond OpenAI and Meta Platforms (META), the note said.

After AMD's Q1 results call, BofA raised the company's 2026 and 2027 pro-forma EPS estimate by 9% each to $7.28 and $11.80, and it is forecasting the company's 2030 EPS potential at over $27, above its management's more than $20 target.

BofA reiterated AMD's buy rating and lifted the company's price target to $450 from $310.

AMD shares were rising past 15% in Wednesday morning trading.

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