India, June 30 -- Shares of Advanced Micro Devices (NASDAQ: AMD) climbed around 3.5% in Tuesday morning trading after Wells Fargo raised its price target on the semiconductor giant, citing stronger long-term earnings potential and growing demand for artificial intelligence (AI) chips.

The bullish analyst note boosted investor confidence, with Wells Fargo forecasting robust CPU and GPU revenue growth over the next several years as the AI industry shifts toward inference computing.

Why is AMD Stock Up Today?

AMD stock gained approximately 3.5% by mid-morning after Wells Fargo analyst Aaron Rakers increased his price target to $615 per share, implying roughly 10% upside from current levels over the next year. The upgrade reflects optimism...