BUSINESS

The former New York Yankees castoff has taken on a new role with the San Francisco Giants after a nine-year playing career.

As MiCA beds in and the U.K. finalizes its crypto framework, stringent regulation could spur mergers, acquisitions and closer ties with banks.

Wall Street usually takes a few days to digest a product event. However, UBS took less than one.Advanced Micro Devices (AMD) concluded its Advancing AI 2026 keynote in San Francisco on July 23. By the following morning, UBS analyst Timothy Arcuri had already raised his price target on the stock to $730 from $700, keeping a buy rating.The speed of his response says something. The event gave analysts enough hard information to rebuild their models on the spot.AMD shares traded near $532 on Friday, July 24, up about 3.2% over five days and up roughly 138% year to date. The stock carries a market value of about $867 billion and a price-to-earnings ratio above 170, which means the bar for justifying any target is high.Why UBS moved its AMD price target within a day of AI DayArcuri did not raise his target because AMD showed a faster GPU. He raised it because AMD gave him a bigger number for the server processor business, and that business carries better margins than anything else the company sells.UBS now believes AMD’s server CPU gross margin runs roughly 1,000 basis points, or 10 percentage points, above the company’s corporate average.That margin figure is the whole argument. If the highest-margin product line is also the fastest-growing one, every extra dollar of server CPU revenue lifts company-wide profitability, rather than just company-wide sales.Arcuri told clients this could create a margin cushion that lets AMD price its 2027 MI500 accelerator aggressively and take more GPU share without wrecking profits, TipRanks reported.

AMD CEO Lisa Su used the Advancing AI 2026 keynote to raise the company’s server CPU market forecast to $220 billion by 2030.SOPA Images / Getty Images

What UBS now expects AMD to earn in 2027 and 2028The revised model runs well past next year, which is unusual for a note written overnight.UBS projects AMD server CPU revenue of approximately $35 billion in calendar 2027, rising to roughly $60 billion in calendar 2028. For context, according to AMD’s earnings release, the entire company’s revenue in the first quarter of 2026 was $10.3 billion.Here is how the UBS earnings math stacks up.UBS earnings per share estimates for AMD2027: Approximately $19 per share, roughly in line with the Street2028: About $27.57 per share, with Arcuri suggesting the figure could approach $302027 data center GPU revenue: Approximately $44 billionThe 2028 estimate carries almost all the weight in this target increase, since UBS is roughly in line with Wall Street’s consensus on 2027 but well above it on 2028.The AI Day disclosures that changed analyst modelsAMD did not just show slides. It moved several timelines forward and put a much larger number on the market it plans to serve.CEO Lisa Su told the audience during AMD’s press release that the server CPU market will grow to about $220 billion by 2030, up from roughly $25 billion today. AMD already holds 46% of server CPU revenue share.The company also confirmed its Helios rack-scale system has entered full production, with shipments starting at the end of the third quarter and a broader ramp in the fourth.The customer commitments behind the forecastForecasts are cheap. Signed capacity is not.OpenAI: Up to six gigawatts of AMD GPUs, starting with MI450 deployments in the second half of 2026Meta: A separate six-gigawatt agreement on a similar timelineAnthropic: Up to two gigawatts of Helios capacity, with the first gigawatt beginning in the first half of 2027Microsoft (MSFT): Azure instances built on both the MI455X and the Venice CPUThose commitments give the $220 billion figure something to stand on, though most of the revenue arrives in 2027 and later.Why the server chip business drives AMD earnings more than GPUs doThis is the part most investors miss, and it explains why five separate firms raised targets after the same event.A GPU handles the heavy parallel math behind AI model training. A CPU handles the general-purpose work that surrounds it, including the logic that decides what an AI system does next.Agentic AI, where software takes multi-step actions on its own, leans heavily on that second category. Related: The new Chinese AI model rattling U.S. tech investorsMore agents running means more CPU sockets, not just more accelerators.AMD’s data center segment generated $5.8 billion in the first quarter, up 57% year over year. It was driven by EPYC processors and Instinct GPU shipments, the company’s SEC filing shows. The CPU half of that segment carries the fatter margin.How AMD stock compares with its peers and the broader marketHere is where AMD sits against the names investors most often compare it to.AMD versus the field, year to date 2026AMD: Up about 138%Philadelphia Semiconductor Index: Up 72.7% as of July 21Nvidia (NVDA): Up 11%S&P 500: Up 8.07%, closing at 7,408.30 on July 23AMD has outrun both its sector index and its largest competitor by a wide margin this year. The stock traded as high as $584.73 over the past 52 weeks and as low as$149.22, a range that shows how quickly sentiment on this name moves.That performance is also the risk. A stock priced at 170 times earnings has already banked a large share of the good news UBS is forecasting.What still has to happen before AMD reaches $730Arcuri’s target implies roughly 35% gains from current levels over 12 months. Several specific things need to go right first.4 milestones the bull case depends onHelios ships on schedule. Initial shipments must begin at the end of the third quarter, with the fourth-quarter ramp holding.Supply keeps up. UBS cited TSMC’s recent capital spending increase as the reason it grew more comfortable, so any advanced-node bottleneck reopens the question.Gigawatt commitments convert to revenue. Stage announcements from OpenAI, Meta, and Anthropic have to appear in reported results starting in 2027.Second-quarter results confirm the pace. AMD guided to about $11.2 billion in revenue with a non-GAAP gross margin near 56%, and the company reports on Aug. 4.That August report is the nearest checkpoint. It covers the first quarter in which the 2nm EPYC Venice ramp begins contributing.Where the UBS view could go wrong for AMD investorsNo analyst target is a guarantee, and this one carries specific vulnerabilities.The 2028 estimate carries most of the weight in this model. It leans on a market size AMD itself provided, plus a share assumption that stretches three years into the future. Su said the company is still targeting more than 50% of the server CPU market, a goal that requires Intel and Arm-based competitors to keep losing ground.More AI Stocks:Micron stock jumps as investors look beyond GPUs in AI chip tradeAMD stock gets a new reason to watch from Bank of AmericaMicron gives Wall Street reason to rethink AI winnersAnalyst views also vary widely. Recent targets range from Jefferies at $640 and Benchmark at $685 to KeyBanc at $725 and Arcuri’s $730. That’s a difference of roughly $90 on the same company after the same event.Investors who already own AMD have watched a 138% gain this year and may reasonably choose to trim rather than add. Those looking to start a position have a defined checkpoint on Aug. 4, rather than a reason to rush.The takeaway for AMD investorsUBS raised its AMD target to $730 from $700 because AI Day gave the firm two things it did not have before: a $220 billion server CPU market forecast for 2030, and confirmation that Helios is in production with named gigawatt-scale customers. The server processor line carries real weight in that estimate, alongside the accelerator business. UBS puts server CPU gross margin to roughly 10 percentage points above AMD’s corporate average.That means every dollar of server CPU growth lifts company-wide earnings more than a dollar of lower-margin revenue would. Arcuri has also framed that margin cushion as the factor that gives AMD room to price its 2027 MI500 aggressively, using the CPU business’s profitability to support share gains on the GPU side.UBS is betting on nearly $30 in 2028 earnings per share, on a stock that already trades above 170 times earnings.Second-quarter results on Aug. 4 will show whether the Venice ramp is delivering the required revenue.Related: SoftBank CEO offers stinging critique of Musk’s AI bet

The Toronto Blue Jays have turned to an American League East rival for a new outfield addition without the fan favorite.

For his success as a pitcher, Tampa Bay’s Ian Seymour credits manager Kevin Cash, pitching coach Kyle Snyder and others who understand baseball is more than a business.

Jensen Huang has been one of the most prominent voices in technology for years, but he had never once posted on X (the former Twitter). On July 24, he did. What he chose to say with his first-ever post on the platform says a lot about the fight now underway over who controls the future of AI.Huang backed a letter titled “Open Weights and American AI Leadership,” signed by 25 organizations including Nvidia, Microsoft, and Meta, calling on U.S. policymakers to support open-weight AI models rather than restrict them. Satya Nadella and Mark Zuckerberg both added their own statements on X. Elon Musk amplified the message. And two of the most visible companies in frontier AI, OpenAI and Anthropic, were not on the list.What Zuckerberg, Nadella, Musk, and Huang actually said about open AI modelsNadella offered a clear policy argument. “Together with others across our industry, we are outlining a path for open-weight models to strengthen American competitiveness and expand economic opportunity, while protecting national security,” he posted on X.Zuckerberg was more direct. “Open source is a positive and important force for both empowering people and preventing centralization. Proud to support this,” he posted on X. Musk reshared Zuckerberg’s post and added three words: “Overwhelming support for open source.”Huang’s first X post made the same argument. Open models, he wrote, “strengthen safety and cybersecurity, accelerate innovation and diffusion, and enable sovereignty.” For a CEO who has never used the platform publicly before, choosing this particular moment to start says something about how seriously the industry is treating this debate.More AI:Workers just sent AI companies an ultimatumPalantir CEO has a blunt verdict on OpenAI and AnthropicElon Musk pulls no punches with AI rivals as Grok 4.5 debutsTo understand why this fight matters, it helps to know what open-weight actually means. When a company releases a model as open-weight, it publishes the underlying numerical parameters: the billions of values that define how the model thinks and responds. Anyone can download those parameters, run the model on their own hardware, and modify it for specific tasks without paying API fees or asking permission.A business can deploy the model inside its own data center and keep its data off third-party servers entirely. A foreign government can take that model and run it without depending on any American company at all. That last part is where the geopolitical argument gets interesting, and where the two sides in this debate start talking past each other.Why OpenAI and Anthropic staying off the letter is the real storyOpenAI and Anthropic weren’t just absent. Both companies have reportedly been pushing U.S. policymakers in the opposite direction, advocating for tighter restrictions on Chinese open-source AI and arguing those models are easier to misuse once released publicly. The commercial interest behind that position is pretty clear.OpenAI and Anthropic charge for API access to models they control. Developers who can run equally capable models on their own infrastructure don’t need to pay those fees. The open-weight push doesn’t just put these two companies on the wrong side of a policy letter. It threatens a core part of how they make money.Critics of the letter are quick to point this out. They describe the industry push as lobbying dressed up as public interest. The argument that open models are harder to control once widely released is a legitimate one, and it’s the issue OpenAI and Anthropic are raising with policymakers.

The letter from Zuckerberg, Nadella, and 23 other organizations is a direct attempt to influence those decisions before they become law.Sven/Getty Images

What China’s Kimi K3 launch has to do with the timingThere’s a specific reason the letter came when it did. On July 16, Beijing-based Moonshot AI put out an open-weight model called Kimi K3. It reportedly hit near-frontier performance levels. Chip stocks slid on the news.The release made something concrete that had been theoretical for months: Chinese labs can now build open-weight models that are genuinely competitive with what U.S. labs produce, and release them publicly for anyone to download. White House adviser Michael Kratsios accused Moonshot of using distillation to copy a U.S. model in building Kimi K3, adding another layer of tension to the debate, Fortune reported.For the tech leaders backing the letter, that development strengthens their case rather than weakening it. Their argument is that if China can produce and globally distribute competitive open-weight systems, the U.S. response should be to accelerate its own open ecosystem, not restrict it. Locking down open models in the U.S. would slow American innovation while doing nothing to stop Chinese models from spreading.Why the policy fight over open AI models is just getting startedThe policy stakes are real. Policymakers are currently weighing whether to restrict how openly AI models can be released, who can train on large amounts of compute, and how much access foreign entities should have to frontier systems.The letter from Zuckerberg, Nadella, and 23 other organizations is a direct attempt to influence those decisions before they become law. It argues that regulators should target specific harms and misuse cases rather than restricting the model format itself. The tech leaders signing it are betting that an open-weight ecosystem ultimately serves American interests better than a controlled one does.The ones who didn’t sign are making the opposite bet. That divide is now public, and it will play out in committee rooms and policy briefings over the months ahead. Jensen Huang waited a long time to make his first X post. The fact that he used it on this issue is the clearest signal of how seriously the biggest names in the industry are taking this fight.Related: Scott Bessent sends unprecedented warnings to China on AI models

A cel phone interrupting proceedings as Florida Gators’ coach Jon Sumrall conducts a team meeting? Linebacker Myles Graham shudders at the thought.

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Why we love this dealWith summer finally in the air, it’s time to let your feet breathe in the sunshine. You can give the running shoes and slick sneakers a break to try something new. For example, Amazon is selling a pair of KuaiLu Leather Flip Flops for a cozy discount.The sandals are usually priced at $20, but you can get them on sale for as little as $10. You can choose between 17 different styles and find them in sizes seven to 16, all at different discount prices. Whatever style you pick, you’ll get a set of sandals that are as supportive as they are stylish. KuaiLu Leather Flip Flops, From $10 (was $20) at Amazon

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Shop at AmazonDetails to knowThe KuaiLu sandals feature faux leather padded straps that offer comfort and match with any outfit. Each sandal’s footbed features soft memory foam that provides soft cushioning and arch support meant to reduce back and heel pain. The bottom of the sandals have non-slip rubber soles that offer traction and grip wherever you’re walking. It all adds up to a capable pair of sandals that work when you’re in the backyard, on the dock, or even on the sidewalk heading to a hot party this summer.Related: Walmart’s bestselling flip-flop sandals with arch support are on sale for $10Why do shoppers love it?Over 18,400 Amazon customers gave the sandals five-star ratings. One shopper called the KuaiLu set “a good pair of flip flops,” thanks to their weight and solid arch support. A different customer loved the sandals so much that they declared, “I have finally found my everyday summer flip flops.” Another said the sandals, specifically their arch support, were a “pleasant surprise” and made long walks more “comfortable” due to their “excellent cushioning.” They added, “These flip flops combined comfort, style, and practicality.”The KuaiLu Leather Flip Flops are a great addition to any summer style. They’re lightweight, comfy, and durable, all while working well with any outfit. Find the right size and shade you want most to get the Amazon savings before the sandals step out on you.

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Evaluations of AI dispensing mental health advice are often done in a manner that is radically different from real world usage. I showcase this. An AI Insider scoop.