What Advanced Micro Devices Buyers Were Betting On Before A 137% Rally

If you only skimmed the headlines about AMD’s MI450 accelerators landing multi-gigawatt deals with Anthropic and Meta, the real surprise sat in the share chart. Holding Advanced Micro Devices from the start of the year would have returned 136.6%, including dividends. If you were deciding on 1 January 2026, before trillion dollar market caps and raised AI forecasts, what would you realistically have needed to believe about AMD’s data center push to press “buy”? The useful thing about a...