Barclays picks favorites for '2nd wave of AI', AMD leads

Camtek

16/01/2024 16:10

(Updates)
    ** For the accelerator market, which has been dominated by
Nvidia  NVDA.O , Barclays sees 2024 as the year AI begins to
open up the ecosystem to more players
    ** "By no means discounting the lead that NVDA has but the
desire to have a second source will overwhelm difficulties for
software ecosystem," brokerage says
    ** To overcome software barrier from NVDA, hyperscalers must
deploy the hardware to get software learning - Barclays 
    ** Barclays' top picks: Advanced Micro Devices  AMD.O ,
Camtek  CAMT.O , Coherent  COHR.O , Marvell Technology  MRVL.O ,
NXP Semiconductors  NXPI.O , Western Digital  WDC.O 
     ** Brokerage sees AMD driving upcoming AI wave on
announcement of multiple hyperscalers and Enterprise customers
    ** Raises price view on AMD to Street-high target of $200
from $120, taking shares up 8.5% at $159.07, their highest in
over 2 years
     ** Upgrades NXP Semiconductors to "overweight" from
"equal-weight", naming it as the best relative looking auto name
    ** Barclays also upgrades its rating for Western Digital,
Camtek and Coherent to "overweight" from "equal-weight"; shares
of all up between 4.1% and 7.6% 
    ** Nvidia  NVDA.O  up 3.2% at $564.36 and hits fresh record
high after KeyBanc hikes PT to $740

 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))