Mizuho Securities raised its price target on Advanced Micro Devices, Inc. (AMD) to $625 from $615 and reiterated a Buy rating following the company’s Advancing AI event.

Shares of AMD opened Tuesday’s session at $494.95 and fell about 5% as the broader semiconductor sector weakened, even as analysts responded positively to the company’s latest AI presentation. The stock has climbed 131% year to date.

Vijay Rakesh of Mizuho said his upgraded view is driven by two major product launches: the Helios AI platform and Venice processors. According to TipRanks data, Rakesh ranks No. 4 among more than 12,390 tracked analysts, with a 68% accuracy rate and an average 72.80% return per recommendation over the past year.

Helios is AMD’s rack-scale AI infrastructure system, and the company’s presentation gave investors a clearer look at how AMD is trying to compete for large-scale AI deployments beyond individual chips. Rakesh pointed to commitments of up to 14 gigawatts of MI455 capacity from major technology companies including OpenAI, Anthropic, Microsoft and Meta, describing the demand as a sign of strength through the second half of 2025.

AMD also said Venice, its 6th-Generation EPYC CPU lineup, has entered full production. The company expects cloud service providers and original equipment manufacturers to begin deployments in the fourth quarter, which makes the rollout timeline relevant for watching how AMD translates product announcements into revenue execution.

A key announcement from the event was AMD’s collaboration with Cerebras. The partnership combines AMD’s Helios rack-scale architecture with Cerebras’ wafer-scale processing technology to create an AI inference platform.

Rakesh also lifted his total addressable market estimate for AMD to $2 trillion by the end of the decade. That forecast includes $1.4 trillion in AI accelerator opportunities, while his server CPU market estimate rose to $220 billion from $120 billion previously.

Other Wall Street firms also turned more constructive. Stifel raised its target to $635, Benchmark increased its forecast to $685, and Wedbush lifted its target to $600. Baird reportedly increased its target to $1,250.

The broader analyst consensus remains Strong Buy, with 28 Buy ratings and eight Hold ratings. The average price target stands at $570.69, implying about 15% upside from current levels.

Not all signals are supportive. Over the past 90 days, company insiders have sold 310,310 shares worth about $141 million, with no recorded open-market purchases. Insider ownership stands at 0.50%.

AMD’s 12-month high is $584.73. Its 50-day moving average is $514.08, while the 200-day moving average is $343.51.

The company last reported results on May 5, when it posted adjusted earnings per share of $1.37, ahead of the $1.29 analyst estimate. Revenue came in at $10.25 billion, up 37.8% year over year and above the $9.90 billion consensus estimate.

Institutional investors hold 71.34% of AMD shares. Empowered Funds LLC increased its position by 37.1% in the first quarter, bringing its stake to 260,777 shares valued at about $53 million.

AMD’s next earnings report is likely to be closely watched for signs that AI demand, supply readiness and guidance can support its current valuation, which includes a price-to-earnings ratio of 162.28 and a market capitalization above $800 billion.