0822 ET - Advanced Micro Devices stands to benefit from its lean into artificial-intelligence hardware, according to Melius Research analysts. The chip maker's slate of upcoming products is garnering interest from hyperscalers such OpenAI, Meta Platforms and Amazon.com, as well as Humain, the arm of Saudi Arabia's public-investment fund focused on AI. The analysts say in a research note that they expect AMD's chip sales to rise significantly in the coming years, even when accounting for a loss of sales in China due to current trade restrictions. "If China comes back (and we think it will in some form eventually), it could add over $3B annually to these sales," the analysts write. Melius upgrades AMD to buy and raises the stock's price target nearly 60% to $175. (connor.hart@wsj.com)

(END) Dow Jones Newswires

June 23, 2025 08:22 ET (12:22 GMT)

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