AMD Introduces Next-Generation Chips with OpenAI as Client
On Thursday, Advanced Micro Devices (AMD) introduced its latest MI400 chips at the “Advancing AI” event, although the official release is not scheduled until 2026. Notably, OpenAI is one of its initial high-profile clients. OpenAI CEO Sam Altman joined AMD CEO Lisa Su on stage to discuss their collaboration on AI infrastructure using the MI400 series technology. “When you first started telling me about the specs, I was like, there’s no way, that just sounds totally crazy,” exclaimed Altman. “It’s gonna be an amazing thing.”
AMD highlighted partnerships with major firms like Meta (META), xAI, Oracle (ORCL), Microsoft (MSFT), Astera Labs (ALAB), and Marvell Technology (MRVL). The company also revealed its AI server rack design, named Helios, which integrates MI400 chips into a unified system, positioning it as a competitor to Nvidia’s (NVDA) Vera Rubin, set to launch in 2026. AMD concurrently unveiled the Instinct MI350 Series GPUs, boasting four times the computational power of its previous generation. Shares of AMD fell approximately 2% on Thursday, marking its return to negative territory for 2025, although the stock has rebounded by roughly 50% since reaching a 52-week low in early April.
S&P 500 Firms Set Record for Stock Buybacks
S&P 500 companies have approved a historic $750 billion in stock buybacks this year. Executives utilized nearly $300 billion for repurchases in the first quarter, influenced by trade uncertainties that pushed stocks into correction phases. Buybacks can bolster stock prices by enhancing demand from both individual and institutional investors, although an authorization alone does not guarantee share repurchases. Market dynamics, company valuations, and management decisions influence whether these buybacks are executed. Tech firms have predominantly contributed to this year’s buyback figures while also committing to significant AI investments, a potential obstacle for buybacks later this year.
Micron Plans $200 Billion Domestic Chip Manufacturing Investment
Micron Technology (MU) announced its plans to significantly increase domestic production, aligning with a push from the Trump administration to enhance American manufacturing. The chipmaker intends to allocate approximately $150 billion to memory manufacturing and an additional $50 billion for research and development (R&D). The funds will be directed towards establishing two high-volume fabs in Idaho and up to four in New York, as well as modernizing existing facilities in Virginia. Micron has secured various federal and state funds for the developments, including nearly $6.4 billion from the CHIPS and Science Act. CEO Sanjay Mehrotra stated that this investment will strengthen America’s technological leadership and create tens of thousands of jobs in the semiconductor sector, pivotal for both economic stability and national security. Recent announcements from General Motors (GM) and Taiwan Semiconductor Manufacturing Co. (TSM) signal a broader trend of increased American investments in manufacturing, with Micron’s stock rising 38% in 2025, reaching new heights since last July.
Oracle’s Growth Projections Lead to Analyst Upgrades
Oracle’s expectations for significantly higher revenue growth in the current fiscal year have prompted several analysts to increase their price targets for the company’s stock. KeyBanc referred to Oracle’s growth outlook as “stunning” in their client brief, raising their price target to $225 from $200. CEO Safra Catz indicated that cloud infrastructure growth could elevate from a 50% increase in fiscal 2025 to over 70% in fiscal 2026. Deutsche Bank upgraded their target even further, moving from $200 to $240, branding the company’s quarterly performance a “watershed cloud moment.” UBS and Jefferies also lifted their targets to $225 and $220, respectively, both from $200. Analysts assert that Oracle is excelling in multiple domains, many of which are still not fully acknowledged by the market. As a result, shares of Oracle surged about 13% to reach $200 in recent trading.
Wedbush Analysts See Oklo as a Leader in Nuclear Energy
Following Oklo’s (OKLO) recent contract agreement with the Department of Defense to supply power to an Air Force base in Alaska, Wedbush analysts have classified the nuclear energy startup as a potential “clear leader” in the sector, given rising demand for nuclear energy. The firm raised its price target for Oklo to $75 from $55. The analysts highlighted a recent favorable shift in the nuclear energy landscape, spurred by executive orders from President Trump promoting clean energy development. They noted that the AI Revolution is driving demand for clean energy to support growing computing needs. Oklo’s business model distinguishes it from competitors, enabling it to capitalize on market trends. Oklo stocks rose about 2% following a nearly 30% surge to reach a record close on Wednesday, tripling in value since the beginning of the year.
Adobe’s Earnings Report Set to Influence Stock Movement
Design software company Adobe (ADBE) is expected to announce its fiscal second-quarter earnings on Thursday, with traders anticipating minimal stock movement in response. Options pricing indicated projections for a post-earnings fluctuation of 6.6% in either direction. The stock was up 0.7% earlier in the day, although historically, Adobe shares have shown an average post-earnings adjustment of 12.6% over the last four quarters, with three instances resulting in declines. In March, shares fell almost 14% after reporting record revenue but providing a disappointing outlook. Consensus among analysts remains positive, with the average price target around $477, indicating a 15% potential upside. Morgan Stanley analysts recently supported Adobe’s long-term outlook, assigning a weighty rating alongside a target of $510.
Oracle Shares Reach New Heights Following Earnings
Oracle (ORCL) shares jumped significantly on Thursday morning following the release of the tech giant’s fiscal fourth-quarter earnings, which surpassed analysts’ expectations. CEO Safra Catz characterized the previous fiscal year as “very good,” adding that she anticipates even greater growth in fiscal 2026. Following the earnings report, the average price target for Oracle, as reported by Visible Alpha, increased to approximately $194, a rise of about $20. Oracle shares have seen a significant increase of over 40% in the past year, notably outperforming the S&P 500.
Boeing and GE Stocks Decline After India Plane Crash
Boeing (BA) shares dipped in premarket trading following an incident involving a 787-8 aircraft that crashed in India. Air India Flight 171, carrying 242 passengers, experienced a crash shortly after taking off from Ahmedabad en route to London Gatwick. Boeing issued a statement expressing its readiness to assist Air India during this crisis, saying, “We are in contact with Air India regarding Flight 171 and stand ready to support them. Our thoughts are with the passengers, crew, first responders, and all affected.” GE Aerospace, which supplies engines for the Dreamliner, also expressed its preparedness to support the ongoing investigation. Historically, the 787 model has maintained a spotless safety record with no fatal accidents in its near-14 years of operation. Boeing shares fell by approximately 6% in premarket trading, although the company has gained 20% overall this year. Shares of other Dreamliner parts manufacturers, including GE and Spirit AeroSystems Holdings (SPR), also faced declines.