AMD stock climbed 3% on Tuesday, closing at $649.42. That move extends the chip maker's blistering run in 2026, with shares of Advanced Micro Devices, Inc. (AMD) now up around 203% for the year.

The gain came as Chief Executive Lisa Su traveled to Seoul to talk chips. She told reporters that AMD continues to explore deeper ties with Samsung Electronics, with the ongoing conversations covering both memory chips and foundry services. In the foundry model, a manufacturer produces chips designed by another company.

Memory Squeeze and Calls to Expand Output

Memory supply has gotten tight as AI data centers absorb enormous amounts of capacity. To deal with that squeeze, Su said AMD is helping customers use memory more efficiently, with the goal of freeing up room for more computing power across the company's product lineup. She did not stop at efficiency measures: Su also pushed memory suppliers to expand production "as fast as possible."

While in Seoul, Su sat down with executives from SK Hynix, one of the world's top memory chip makers. She also planned to meet separately with Samsung leadership during the same trip. Samsung and SK Hynix are both among the world's largest producers of memory chips, and Su described the two companies as central to AMD's data center plans. She said overall demand across AMD's data center lineup remains strong.

The Samsung Deal So Far

AMD and Samsung are not starting from scratch. The two companies signed a memorandum of understanding back in March focused on memory chips for AI infrastructure. Per a Bloomberg report shared on X, Su plans to meet with the head of Samsung Electronics' semiconductor business on Wednesday, the latest in-person catch-up between two of the AI industry's key figures:

Advanced Micro Devices' CEO plans to meet with the head of Samsung Electronics' semiconductor business on Wednesday, the latest in-person catchup between two of the AI industry's key figures.
— Bloomberg (@business) October 7, 2026

That early agreement also opened the door to a possible foundry partnership. Under such a setup, Samsung would manufacture AMD's next-generation chips as a contract producer. Nothing has been finalized on the foundry side. No manufacturing agreement has been announced, so the financial details and timeline remain unknown for now. Still, a full foundry would expand Samsung's role well past memory supply, making the South Korean electronics giant a direct producer of AMD's chip designs.

What Analysts Think of AMD Stock

Wall Street remains upbeat on AMD despite the stock's huge run already this year. The consensus rating sits at Strong Buy, based on 36 analyst ratings. Of those, 30 analysts rate AMD a Buy. The remaining six rate it a Hold, with no Sell ratings in the mix.

The average price target for AMD stock is $662.38. That figure points to about 2% upside from Tuesday's closing level of $649.42.

SK Hynix stock, meanwhile, moved in the opposite direction. Shares in the memory maker fell 6% even as Su praised the company's role in AMD's supply chain.

No new agreement with Samsung has been signed as of Wednesday. Su's comments in Seoul remain the latest public update on where the partnership talks stand, making any post-meeting announcement from either company the next development to watch.

This article originally appeared on CoinCentral.