10:59 AM EDT, 10/11/2024 (MT Newswires) -- Advanced Micro Devices ( AMD ) AI Day event on Thursday was "largely uneventful" with the company recapping "already well understood CPU/GPU product roadmaps," Oppenheimer said in a note emailed Friday.

The company's shares closed lower on Thursday "similar to prior AMD AI event sell offs, as [management] failed to share any substantial data/detail to drive investor excitement," the investment firm said.

Oppenheimer noted, however, that the company's management "highlighted efforts to broaden AMD's AI portfolio to deliver a more complete rack level system to keep up with [Nvidia]-led trend."

The investment firm also highlighted the fact that Advanced Micro Devices' ( AMD ) management updated the AI accelerator total addressable market forecast from $45 billion in 2023 to more than $500 billion by 2028, compared with the previous estimate of $400 billion in 2027.

Meanwhile, in the PC segment, Advanced Micro Devices ( AMD ) launched new Ryzen AI PRO 300 processors that support Microsoft's (MSFT) CoPilot, Oppenheimer said, adding that "our checks reveal AI PCs unlikely to drive significant demand this year with PC market (units) up only 2%."

Oppenheimer kept its perform rating on Advanced Micro Devices ( AMD ).

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