BofA Lifts AMD to $560 and Intel to Buy as Agentic AI Spurs $170 Billion CPU Bet
Updated
Updated · TradingView · Jun 11
BofA Lifts AMD to $560 and Intel to Buy as Agentic AI Spurs $170 Billion CPU Bet
3 articles · Updated · TradingView · Jun 11
Summary
AMD rose about 6%, Intel more than 11%, Arm over 8% and Nvidia 1.4% after Bank of America said agentic AI could sharply widen chip demand beyond AI accelerators.
BofA raised its global server CPU market forecast to more than $170 billion by 2030 from $125 billion, implying roughly 37% annual growth as agentic AI boosts latency-sensitive, sequential workloads better suited to CPUs.
AMD became BofA's preferred CPU pick, with its target lifted to $560 from $500; Arm's target rose to $335 from $245, and Intel won a rare double upgrade to Buy with a $135 target.
Nvidia remained BofA's top semiconductor pick for its full-stack AI position even after a 7.5% one-month slide, while Qualcomm stayed Underperform despite an expected AI CPU update on June 24.
The call added a fresh catalyst to Thursday's broader chip rebound, which had already helped lift US indexes after two sessions of losses.