Citi: CPU market size expected to reach $300 billion by 2030, AMD price target raised to $800

Citi said in a research report that a number of personal AI agent products have been launched in the market, including Muse, Dots, Instinct, GrokBot and GeminiSpark. It expects the total addressable CPU market to expand from US$29 billion in 2025 to US$300 billion in 2030, with a compound annual growth rate of 60%. Citi believes that, unlike most traditional chat-based AI that sits idle, AI agents can operate continuously and are expected to drive exponential growth in computing power demand. It raised its target price on AMD from US$575 to US$800, maintaining a "Buy" rating, and expects AMD to be the main beneficiary of the CPU revival, with Intel as the secondary beneficiary. It also reiterated its "Buy" rating on Nvidia with a target price of US$315.