Advanced Micro Devices Inc. (NASDAQ:AMD) stock rose nearly 3% in Monday’s premarket session as improving risk appetite lifted semiconductor stocks.

Nasdaq futures gained 0.74%, while S&P 500 futures advanced 0.31%, with investors also turning their attention to AMD’s AI-focused event later this week.

The chipmaker’s Advancing AI 2026 event, scheduled for July 22-23, is expected to showcase its next-generation AI roadmap, including new CPUs and GPUs, as AMD looks to strengthen its position in the fast-growing AI infrastructure market.

UBS Expects Technology Roadmap To Take Center Stage

UBS said the event is likely to focus on technology updates rather than major customer wins or financial announcements, according to a Moomoo report published Monday.

The firm expects AMD to provide updates on its data center CPU roadmap, including Venice and Verano, alongside its GPU lineup featuring MI450x and MI500.

While investors are eager to see whether AMD can broaden its AI customer base beyond OpenAI and Meta Platforms Inc. (NASDAQ:META), UBS advised lowering expectations for blockbuster customer announcements.

The firm still sees Amazon.com Inc. (NASDAQ:AMZN) as a potential customer for MI450x and views Anthropic as another possible AI customer.

AI Momentum Remains A Key Growth Driver

UBS expects AMD to share additional details on the MI450x Helios platform, the MI500 series and possibly early information on MI600. The firm also anticipates updates on AMD’s distributed inference strategy and a more constructive outlook for the server CPU market.

In addition, UBS expects AMD to announce volume production of its next-generation EPYC Venice server processor and provide further details on Verano, which is expected to be manufactured using Taiwan Semiconductor Manufacturing Company Ltd.’s (NYSE:TSM) 2-nanometer process.

The stock has a consensus Buy rating with an average analyst price forecast of $521.47. Recent analyst actions include:

• Bank of America: Buy, raised price forecast to $620 on July 14
• KeyBanc: Overweight, raised price forecast to $725 on July 14
• TD Cowen: Buy, raised price forecast to $675 on July 13

AMD Top ETF Exposure

• iShares Semiconductor ETF (NASDAQ:SOXX): 8.47% Weight
• ARK Next Generation Internet ETF (NYSE:ARKW): 8.21% Weight
• Pacer Data and Digital Revolution ETF (NYSE:TRFK): 8.22% Weight

Significance: Because AMD carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

AMD Price Action

AMD Stock Price Activity: Advanced Micro Devices shares were up 2.87% at $510.00 during premarket trading on Monday, according to Benzinga Pro data.

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