Attention is shifting to whether AMD uses its San Francisco AI event to flesh out the MI500 GPU series and formally commit to a CPO-based scale-up roadmap with named partners.
UBS lifted its target price on AMD to $700 from $670 while maintaining a Buy rating ahead of the chipmaker’s Advancing AI 2026 event in San Francisco on July 22-23. The bank expects the conference to focus on product and technology updates rather than customer wins or financial disclosures, with likely discussion of data-center CPUs Venice and Verano, GPUs MI450x and MI500, and AMD’s embedded and gaming graphics businesses. New attention is also centering on whether AMD provides more detail on the MI500 GPU series and its scale-up co-packaged optics, or CPO, roadmap. Serenity said the key question is whether AMD formally commits to a CPO-based scale-up architecture and identifies an optical engine supplier, while Jefferies analyst Blayne Curtis expects AMD to work with Astera Labs on UAL and Broadcom on ESUN.