The race for chips that power AI-enabled personal computers (PCs) is heating up as AMD (NASDAQ:AMD) unveils new AI processors. AMD has launched the Ryzen Pro 8040 series for laptops and the Ryzen Pro 8000 series for desktops. These chips boast powerful performance with 4-nanometer technology. The chips are expected to be used in HP (NYSE:HPQ) and Lenovo PCs from the second quarter of this year.
As generative AI becomes increasingly popular, the demand for AI chips that can power such PCs is rising. This is indicated by a report from market research firm, IDC, which predicts that AI PCs will ultimately drive the PC market forward to 292.2 million units in 2028.
AMD’s competitors, such as Intel (NASDAQ:INTC) and Nvidia (NASDAQ:NVDA), have also entered the AI chip race. They have launched the Core Ultra chips and new Graphics Processing Units (GPUs) to run AI applications on PCs, respectively.
What is AMD Stock’s Price Prediction?
Analysts remain bullish about AMD stock, with a Strong Buy consensus rating based on 30 Buys and six Holds. Over the past year, AMD has increased by more than 80%, and the average AMD price target of $202.25 implies an upside potential of 24.1% from current levels.
