Advanced Micro Devices (AMD) has gained about 128.45% year to date, at the time of writing, Thursday afternoon, June 11. Meanwhile, the SPDR S&P 500 index (SPY) is up about 8.47% in the same period.

The company has outpaced the S&P 500 by a huge margin. That is impressive, but what is driving these gains?

AMD is a semiconductor company that makes CPUs and GPUs, and its stock has rallied amid the AI boom.

Key news items for AMD stock:

Bank of America recently held its Global Tech Conference, and following the conference, analysts had a lot of information to process, leading to changes in outlook.

In a research note shared with me, Bank of America analyst Vivek Arya and his team have changed their server CPU total…