Advanced Micro Devices shares have climbed 187% year-to-date and 281% over the past year, briefly pushing the chipmaker past a $1 trillion market value on Sept. 21, 2026, before pulling back. The stock traded near $616 as of writing, and on Sept. 30 it slipped 0.59% even after the company announced two notable AI initiatives.
Jim Cramer addressed AMD’s rally on Mad Money on Sept. 28, calling CEO Lisa Su’s turnaround “arguably maybe the greatest of all time” and saying he sees no sign it will stop soon. Cramer’s thesis is not built on GPUs but on central processing units and agentic AI, which is inference-heavy and runs constantly. AMD’s data center revenue hit $6.7 billion in Q2 2026, up 107% year over year, and its 6th Gen EPYC server processors launched in July specifically for agentic workloads.
AMD also confirmed on September 28 that it agreed to buy World Labs for roughly $8.2 billion in an all-stock deal. World Labs builds AI models that create and simulate 3D environments for robotics and virtual testing. Fei-Fei Li, a World Labs co-founder, will join AMD as executive vice president and chief scientist. The acquisition is expected to close by the end of the year pending regulatory approval.
On the same day, AMD rolled out Ross, a new AI assistant designed to help engineers move through planning, design, testing, debugging and deployment using plain language. Ross draws on AMD documentation and reusable agent skills. AMD plans to add new tools to Ross each month. An early user from iWave Global described Ross as a “valuable addition” to its development workflow.
Wall Street’s consensus on AMD remains Strong Buy, based on 30 Buy and six Hold ratings over the past three months. The average price target is $648.07, implying roughly 7% upside. Analysts at StoneX and Stifel kept Buy ratings with targets of $685 and $635, while William Blair maintained a Hold. Cramer did flag that a stock up 30% in September alone is vulnerable to profit-taking if unexpected news hits.
