Citi lifts 2030 CPU TAM forecast to $300 bln, sees AMD as biggest beneficiary
Citi raised its 2030 CPU total addressable market forecast to $300 billion from $237 billion, citing rollout of personal AI agents and expected CPU demand growth from $29 billion in 2025. It raised its price target for AMD to $800 from $575 and said CPUs may become a bottleneck for agentic AI. Citi also named Intel as a secondary beneficiary.
6% upside to its last close * Adds that AMD will be the biggest beneficiary of a rebound in CPU demand, with Meta among its largest server customers and names Intel as a secondary beneficiary * AMD plans to sharply increase chip supply in 2027 to meet surging AI demand, CEO Lisa Su said on Tuesday, adding that co is working with suppliers to ramp up CPU and GPU production * Citigroup says CPUs are becoming a bottleneck as agentic AI requires increasingly more CPU capacity relative to GPUs. com)