Why is Advanced Micro Devices stock surging today? By Investing.com

Advanced Micro Devices rose sharply in morning trading, up 8.4% to $607.07, and briefly hit a new 52-week high of $609.75. The move is tied to a broader market rally in AI semiconductors ahead of the Trump-Xi summit scheduled for September 24 in Washington. Monday’s gains also reflect expectations that influential AI leaders will attend a White House dinner on Thursday, after preliminary talks between U.S. Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng were described as constructive. Investors are watching for signals on AI cooperation frameworks versus tighter U.S. export controls on chips. Analyst sentiment is strongly bullish: 55 analysts cover AMD, with 39 buys and a mean target of $617. Piper Sandler initiated Overweight on Sep. 10, and Raymond James raised its rating to Strong Buy on Aug. 25.