On June 8, GraniteShares 2x Long AMD ETF (AMDL) rose 8.27% in pre-market trading, trading at $60.8/share, with trading volume of approximately $13.09 million. The leveraged ETF amplified underlying gains as AMD itself rose over 3% pre-market.
The move was driven by AMD's announcement at London Tech Week that it plans to invest up to 2 billion British Pounds in the United Kingdom over the next five years to accelerate artificial intelligence research, computing infrastructure, and innovation ecosystem development. CEO Lisa Su stated that AI remains in a \"very early stage\" and emphasized that compute equates to intelligence, underscoring long-term demand for advanced processors.
AMD also unveiled collaborations with Imperial College London, the University of Cambridge, and Oriole Networks to advance AI research. Additionally, Barclays recently raised its price target on AMD from $500 to $665 while maintaining an Outperform rating, and multiple institutions including Goldman Sachs and Bernstein have upgraded AMD, citing Agentic AI-driven CPU demand as a new growth engine.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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