This article first appeared on GuruFocus.

Advanced Micro Devices (NASDAQ:AMD) rose 1.5% in premarket trading Friday after several Wall Street analysts raised their price targets following the chipmaker’s Advancing AI event, where the company outlined broader ambitions for its artificial intelligence portfolio.

AMD (NASDAQ:AMD) drew positive commentary from multiple brokerages, with analysts pointing to the launch of its Helios AI rack-scale platform, expanded Instinct GPU lineup, Venice CPUs and networking products as strengthening its position in the AI infrastructure market. Roth increased its price target to $650 from $500 while maintaining a Buy rating.

AMD also lifted its long-term market…