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For months, one of Wall Street’s most closely watched chip analysts held a skeptical line on AMD while the stock rode the broader AI rally. On June 12, that changed. Citi analyst Atif Malik upgraded AMD to Buy from Neutral and raised his price target to $575 from $460, and shares jumped 4.73% the same day, according to Stocktwits.The new target implies more than 17% upside from Thursday’s close. Citi’s reasoning, in the bank’s own words, was “increased conviction in AMD’s GPU business and server CPU tailwinds.” In practice, that means two things changed: Malik now believes AMD’s graphics chip business is worth far more than the market is pricing in, and he raised his long-term forecast for the entire CPU market on top of that. The GPU shift is the bigger of the two, and it is built around one customer in particular.The AMD number Citi thinks the market has wrongMalik’s case rests on a specific gap between what AMD’s stock implies and what Citi thinks will actually happen. According to Investing.com, Citi estimates AMD’s current share price is pricing in only a 60% probability that the company surpasses $50 billion in GPU revenue by 2028. Citi’s own forecast goes further: $33 billion in AI GPU revenue in 2027, up 137% year-over-year, and $50.8 billion in 2028, according to TipRanks.More Wall Street:JPMorgan resets S&P 500 price target for the rest of 2026Vanguard challenges the S&P 500 as a one-stop strategyGoldman Sachs resets Broadcom stock forecastThat gap, between a 60% probability priced in and Citi’s own base case of $50.8 billion by 2028, is the entire thesis. Malik’s note argued that “the market has yet to fully recognize AMD as a legit second source in the GPU market,” a framing that has been the headline takeaway across Wall Street coverage of the call.Why Meta is at the center of the AMD bull caseThe Meta relationship is where Citi’s numbers become concrete rather than aspirational. AMD and Meta previously announced a six-gigawatt, four-year AI infrastructure partnership built around custom AMD Instinct MI450 chips, including a warrant for 160 million shares of AMD common stock. The first one-gigawatt tranche begins ramping in the second half of 2026 and into 2027.Citi’s model translates that gigawatt commitment directly into revenue: each gigawatt of data center capacity corresponds to roughly $15 billion in revenue for AMD. On a six-gigawatt deal, that math is the foundation for Malik’s $33 billion and $50.8 billion AI GPU revenue estimates. Citi also argues the custom MI450 chips give Meta a lower total cost of ownership than buying merchant GPUs from other suppliers, which is the operational reason Citi believes Meta keeps expanding the relationship rather than diversifying away from it.How Citi built its $575 AMD price targetThe headline number obscures how granular Citi’s valuation work actually is. The $575 target comes from a sum-of-the-parts model that values AMD’s data center GPU business at $281 per share on its own, more than the entire stock traded for before the upgrade. The CPU business is valued separately at $204 per share, with the remaining value coming from AMD’s client, gaming, and embedded segments plus roughly $35 per share in net cash, according to Investing.com.That breakdown matters because it shows Citi is not simply raising a multiple on the existing business. The bank is arguing the GPU segment alone is worth more than what the market currently assigns to all of AMD combined, with the CPU business, historically the core of how investors have valued the company, treated as additional value on top.

The Meta relationship is where Citi’s numbers become concrete rather than aspirationalBecker/Getty Images

AMD’s CPU story has not disappeared eitherEven as the GPU thesis dominates the headlines, Citi’s note also raised its long-term CPU forecast. The bank lifted its 2030 total addressable market estimate for CPUs to $136.7 billion from $131.5 billion, representing a 36% compound annual growth rate from $29.3 billion in 2025, according to GuruFocus. Much of that growth is tied to demand for agentic CPUs, chips designed for AI systems capable of operating autonomously rather than simply responding to prompts.Citi’s revised 2026 to 2028 earnings estimates for AMD now sit 12% to 13% above Wall Street consensus, according to CNBC.”We believe Meta will be a significantly larger customer of AMD’s AI products, especially GPUs, than the street is expecting,” Malik wrote in the note.What the AMD upgrade actually changesThe practical effect of Citi’s call is a reframing rather than a new data point. The Meta deal, the MI450 chips, and AMD’s CPU roadmap were all known before June 12. What changed is that one of the most closely watched analysts on the Street stopped treating AMD as primarily a CPU company that also sells some GPUs, and started modeling it as a company where the GPU business alone could be worth more than the entire current valuation.Whether that reframing sticks depends on execution that is still years away. The first gigawatt of the Meta deal does not begin ramping until the second half of 2026, and the $50.8 billion 2028 GPU revenue figure that anchors the bull case is itself the more aggressive end of Citi’s range. For now, the market’s initial reaction, a near 5% jump in a single session, suggests at least some investors were waiting for exactly this kind of reframing to arrive.Related: Bank of America resets AMD stock price target

Donald Trump’s name was ordered to be removed from The John F. Kennedy Memorial Center for the Performing Arts despite multiple legal challenges.

Bitcoin traded above $64,000 on Saturday, supported by its strongest ETF inflows in a month and growing optimism around geopolitical developments.

In an interview with CoinDesk, Etherealize cofounder Vivek Raman said Ethereum is currently in a transitional phase where the infrastructure has largely been built, but the scale of adoption has yet to be fully reflected in ETH itself.

A FIFA-driven program to create a uniform pitch at World Cup 2026 takes shape across 16 stadiums, each with a unique mix of natural grass and poly-based fibers

Tokenization is laying the groundwork for autonomous investing and real-time portfolio management, Ondo’s new head of portfolio products John Hoffman said.

TheStreet aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.Everyone needs a good, reliable work laptop, and doubly so if you’re working from home or attending school. If you just want one for general use, any laptop that can run Windows or macOS and software like Google Suite and Microsoft Office ought to do the trick. But more power and more storage never hurt.Right now, you can snag a $400 Nimo N151 Windows 11 Laptop on sale for just $360 on Amazon, and it’s got everything you need for the vast majority of jobs.Nimo N151 15.6-Inch Windows 11 Laptop, $360 (was $400) at Amazon

Courtesy of Amazon

Shop at AmazonDetails to knowThis 15.6-inch laptop from Nimo comes equipped with one terabyte of SSD storage, 16 gigs of DDR4 RAM, an Intel N100 processor, and Windows 11 Home Edition. It’s got a built-in microSD memory card slot, HD surround audio, USB 3.0 ports (including Type-C), and an HDMI input for all your ancillary devices and charging needs, plus plenty of other nice bells and whistles.The display is a 1920-by-1080-pixel anti-glare LCD screen with slim bezels, and it features a built-in high-definition webcam for easy everyday video conferencing. The refresh rate is 60 Hz, so it’s perfect for watching films and TV shows at their intended frame rate. Bluetooth 5.2 and Wi-Fi 6 keep you connected, and Nimo backs the device with a two-year repair warranty.Related: Walmart’s 2-in-1 tablet and laptop is only $85 with a Flash dealWhy do shoppers love it?”I love this laptop. It’s a good computer for the price,” said one reviewer. “It has a fingerprint scan, and you can set a PIN for access as well. It’s very easy to set up and use, and it starts up very quickly when you turn it on. The battery life is okay — at least six hours when connected to Wi-Fi. My laptop is a beautiful blue color, and the fish emblem makes me smile every time.”If you’re ready to invest in a good student laptop or work computer, save $40 on a new Nimo N151 15.6-Inch Windows Laptop at Amazon.

Venture capitalist Steve Westly says SpaceX is “three moonshots in one company” and the math only works if most of them pay off.On June 12, SpaceX (SPCX) just pulled off the biggest initial public offering in stock market history. The company raised $75 billion, priced shares at $135 each, and debuted on the Nasdaq with a bang, jumping 19% on its first day of trading, according to CNBC.By the closing bell, shares had settled around $161. That put the company’s market cap at roughly $2.1 trillion. The pop continued after hours, lifting the valuation closer to $2.2 trillion.But behind the celebratory bell-ringing, a veteran investor with deep experience with Elon Musk has a pointed message for anyone considering buying in.SpaceX is not just a rocket companySpaceX isn’t just a rocket company anymore. Musk folded his artificial intelligence startup xAI into SpaceX in February 2026. The combined entity consists of AI data centers, the Grok AI models, the X social network (formerly Twitter), and an AI image generator.So SpaceX now spans three very different businesses: rockets and space exploration, Starlink satellite internet, and an AI division.More AI:Micron sits at the center of a red-hot chip rallyIBM CEO sends blunt message on AI and quantum computingAnthropic CEO makes shocking admission about AIThe only part currently turning a profit is Starlink. According to the SEC filings, the satellite internet unit generated $4.4 billion in operating profit last year. The AI division, by contrast, lost $6.4 billion while bringing in just $3.2 billion in revenue, as CNN reported.The company has lost $41.3 billion in total since its founding in 2002, according to its prospectus filed with the Securities and Exchange Commission.Steve Westly’s candid warning about the $2 trillion SpaceX valuationWestly, who served on Tesla’s board and founded The Westly Group, told CNBC’s “Squawk Box Europe” that figuring out what SpaceX is worth isn’t easy.The three businesses inside it are, in his words, “completely disparate.”His bottom line? At least two of the three bets need to work out.”SpaceX is three moonshots in one company, but I think they’re going to need to make at least two of these moonshots successful to keep that $2 trillion valuation,” Westly told CNBC.SpaceX’s own IPO prospectus acknowledged that some of its plans rely on technologies that do not yet exist.Related: 5 reasons why the SpaceX IPO could be an absolute dudThere’s also the governance issue. Musk holds super-voting Class B shares that give him around 85% of the shareholder vote, CNN reported. In plain terms, he would essentially have to vote against himself to be removed. Investors take on real financial risk but have almost no say in how the company is run. Research firm Morningstar put SpaceX’s fair value closer to $780 billion, less than half the IPO valuation, suggesting the market is pricing in significant future optimism.Is a Tesla-SpaceX merger next? There’s one more wrinkle for investors to consider. Westly told CNBC he thinks a merger between SpaceX and Tesla is “absolutely likely.”CNBC reported in May, citing people familiar with the matter, that the two companies already share a long list of resources and that Musk has discussed combining them.  Westly didn’t dismiss the governance headaches that would come with such a move, but he didn’t back away from his prediction, either.”It’s going to be a tricky one. There will be a lot of governance issues, people will have complaints about that, but… I think there’s a good chance that ends up happening,” he told CNBC.

SpaceX trades at a lofty valuation following its IPO.AFP/Getty Images

History’s verdict on giant, pricey IPOsAcademic research adds another layer of caution. A long-running study of more than 9,200 IPOs by University of Florida finance professor Jay Ritter found that companies with more than $1 billion in pre-IPO revenue posted an average three-year market-adjusted return of -2.1%. Separately, among tech companies priced above 40 times sales, 12 out of 14 trailed the broader market over their first three years.Musk was candid about his reasons for going public. He told a JPMorgan Chase livestream before the IPO that SpaceX has been cash-flow positive since around 2015 and wants to raise capital for a major growth phase, including plans to put more than 100,000 satellites in orbit and build AI data centers in space.There’s clearly a bull case. But Westly’s math is worth sitting with: three moonshots, and you need most of them to land.Related: Dan Ives spills the beans on SpaceX future

While travel between Canada and the U.S. is still at historic lows over Donald Trump’s annexation threats and disrespectful comments toward the northern neighbor at the start of 2025, the FIFA 2026 World Cup is expected to bring in more than 350,000 international visitors to host cities Toronto and Vancouver.Along with coming in to the matches themselves, a large portion of the 1.2 million international fans expected to arrive to North America this summer will use the occasion to travel between the U.S., Canada and Mexico and otherwise make a trip out of their arrival.The most recent estimates show that at least six million of those who live in Canada, the U.S. and Mexico also plan on crossing borders to see a World Cup game in another country.In response to the projected travel spike, the U.S. State Department updated its advisory page for Canada to draw attention to specific issues that can arise in relation to traveling for the 2026 FIFA World Cup.”We encourage all Americans heading to Canada to review the expiration date of their travel document”: U.S. State DepartmentWhile the advisory for Canada remains at the lowest “exercise normal precautions” level, a new crime section now states that “petty crime is common in popular tourist locations” while “most crimes against foreigners are crimes of opportunity, like purse snatching, pickpocketing, and car break-ins or theft.”Another section urges Americans coming in to Canada for the World Cup to check that they have proper documents such as a valid passport, passport card or NEXUS pass in place as lines at border crossings may face additional traffic and any problem could cause more delay and travel disruption than usual.Related: As Americans flock to Canada, a major travel trend is fully reversed”We encourage all Americans heading to Canada to review the expiration date of their travel document,” the advisory also reads. “Apply for or renew your U.S. passport or passport card well before travel to avoid any last-minute stress or extra fees. Check processing times to renew by mail or online through the online passport renewal program.”Another section reminds travelers that, even if recreational cannabis is legal in the state from which one is coming into Canada and within Canada itself, transportation of cannabis products cross-border is prohibited by the laws of both countries.

As the Canadian host cities, Toronto and Vancouver are expected to see the largest numbers of World Cup fans this summer.Shutterstock

Reminder to World Cup travelers: “It is illegal to bring cannabis across the border”The advisory further urges Americans to brush up on the list of items that Canada prohibits from being brought into the country and make sure none are accidentally left behind in the car that one uses to cross over.Those caught doing so can face, depending on the amount and severity of the infraction, face fines, criminal charges and immediate denial of entry.More Travel News:Airline to launch unusual new flight to Cayman Islands from the U.S.What you can expect at Disneyland’s new ‘World of Frozen’Unexpected country is most luxurious travel destination for 2026U.S. government issues strange warning on Ireland travel”Carefully check your bags, clothing pockets, and inspect your vehicle before travel,” the section on prohibited items reads. “It is illegal to bring cannabis across the border, including products such as edible cannabis, cannabis extracts, and items containing CBD. Similarly, it is illegal to transport undeclared firearms and ammunition across the border.”Related: Popular tourist, cruise destination to fine for this type of shoe

Oracle just wrapped its fiscal year 2026 with record quarterly revenue of $19.2 billion, up 21% year-over-year (YoY), and its leadership team used the June 10 earnings call to send a clear message to investors: the biggest growth is still ahead.Cloud infrastructure revenue surged 93% in the quarter. The remaining performance obligations (RPO) number, essentially a measure of future contracted revenue, hit a figure that even surprised Wall Street veterans. And two CEOs, a new chief financial officer, and one very large capital expenditure plan all pointed in the same direction.Here are the five things Oracle (ORCL) CEO Mike Sicilia, Cloud CEO Clay Magouyrk, and CFO Hilary Maxson want you to walk away knowing.Oracle’s massive $638B revenue backlog Let’s start with how big Oracle’s revenue backlog is. Oracle’s RPO, or remaining performance obligations, which is the total value of customer contracts that haven’t been recognized as revenue yet, finished fiscal year 2026 (ended in May) at $638 billion. That’s up 363% in a single year.To put that in plain terms: Oracle has nearly two-thirds of a trillion dollars in signed customer commitments sitting on its books. About 12% of that converts to revenue in the next 12 months. Another 34% follows in the 13- to 36-month window. It means over the next three years, Oracle will report cumulative revenue of $294 billion. Comparatively, it ended fiscal 2026 with sales of $67.36 billion. “Unprecedented visibility,” is how CFO Maxson described it on the call. 

Oracle is investing heavily in the AI buildoutBloomberg/Getty Images

Oracle’s AI contracts are growingThis is the counterintuitive story of the quarter.Cloud CEO Magouyrk disclosed $67 billion in new artificial intelligence infrastructure contracts signed in the fourth quarter.Of that, the majority was either bring-your-own-hardware or prepaid arrangements. The total of those deal types now sits at $75 billion.The natural question: if customers are bringing their own chips, what are they paying Oracle for?More AI:Micron sits at the center of a red-hot chip rallyIBM CEO sends blunt message on AI and quantum computingAnthropic CEO makes shocking admission about AIThe answer, according to Magouyrk, is everything else, which includes data center design, network architecture, security, cloud operations, identity management, and load balancing. Oracle provides the full stack around whatever hardware a customer brings.And, critically, Magouyrk said margins on these deals are “at or better” than those in standard contracts. Basically, customers trust Oracle to build and run billion-dollar infrastructure around their own capital.A 97.5% GPU utilization rate When an analyst on the call raised the specter of new entrants, including SpaceX reportedly building data centers in Europe, Magouyrk didn’t pivot to a product comparison. He cited one stat instead.Oracle’s global GPU utilization rate is 97.5%.Even when contracts come up for renewal, GPUs that aren’t renewed by one customer are picked up by another in the same quarter. Of the 35,000 GPUs from 59 customers that came up for renewal in the fourth quarter, 49% of customers renewed for 92% of those GPUs. The remaining capacity was quickly absorbed.His broader point: Oracle wins in relationships, operational execution, and hardware availability. The cloud, he argued on the earnings call, is a service business, and after several years of operating massive clusters for these customers, the relationships are sticky.Oracle shipped more than 1,000 AI agents Apps CEO Sicilia made one thing clear: the experimental phase of enterprise artificial intelligence is over.Oracle shipped more than 1,000 AI agents across its application suites in the past year. According to Sicilia, they “reason, decide, and execute work across processes.” The pitch to customers is essentially: don’t build AI infrastructure from scratch. Keep using Oracle apps, and AI features arrive automatically every quarter.Related: UBS resets Oracle stock price targetWhat’s new is how Oracle is monetizing it. The company is rolling out outcome-based pricing, charging per candidate screened by an interview agent, or per upsell transaction completed in hospitality. In Q4, 33 customers purchased token bundles to access more advanced AI reasoning across Oracle’s suite.In fiscal year 2027, this pricing model expands across Oracle’s full application fleet. Sicilia called it a way to help customers “align their spending with the value being generated.”The $70 billion CapEx plan Oracle plans to spend roughly $70 billion net on capital expenditures in fiscal year 2027. It also plans to raise around $40 billion in debt and equity, including a previously announced $20 billion equity issuance.Those numbers, taken on their own, would rattle most investors.But CFO Maxson reframed the story. Between $20 billion and $25 billion of that capital expenditure is funded by customer prepayments. In other words, Oracle collects the cash before it spends it. Maxson explained:”From a funding standpoint, what’s happening here is that these structures are enabling us to have a lower cash CapEx requirement when we look at how we plan our business. And also from an economic standpoint, of course, because we’re collecting money upfront.”Her back-of-the-envelope steady-state return on invested capital is projected in the 20s. On bring-your-own-hardware deals, she said, the returns are even better.The long-term targets, a 31% revenue compound annual growth rate and 28% earnings per share CAGR through fiscal year 2030, were formally reconfirmed on the call.The road to $100 billion in annual revenue, Maxson suggested, is on schedule.Is ORCL stock undervalued?Valued at a market cap of $529 billion, ORCL stock is down 44% from all-time highs. Over the next two years, analysts forecast free cash outflows to exceed $85 billion. However, its free cash flow is also projected to improve from $17.29 billion in fiscal 2029 to $70.84 billion in fiscal 2031. If Oracle stock is priced at 15x forward FCF, which is not too steep, it could roughly double from current levels within the next four years. Out of the 32 analysts covering ORCL stock, 27 recommend “Buy,” and five recommend “Hold”. The average Oracle stock price target is $265, 44% above the current price. Related: Oracle’s cloud pivot remains a high-risk bet