AMD shares climbed 4.08% to $246.40 on February 02, 2026, driven by a positive analyst note highlighting the growing adoption and traction of its AI accelerators in the enterprise sector.
- The analyst report emphasized that AMD's AI accelerators are gaining significant adoption among major players, including Oracle, Cisco, and IBM, positioning them as strong alternatives to NVIDIA.
- The stock movement occurred amidst a broader market rally (S&P 500 +0.65%, NASDAQ +0.68%), supported by strong economic data, specifically the ISM Manufacturing PMI reading of 52.6.