AMD (AMD) does not have an AI problem. The chipmaker is up 7% as AMD sees no leveling off in AI demand. In fact, AMD is predicting an acceleration in growth and revenue from data centers that could generate $100 billion in sales as soon as 2030. AMD predicts the data center industry could be worth a trillion dollars by 2030. AMD will have to fight with Nvidia for market share in the industry.

Oil and energy stocks are pulling back. The price of oil is down 4% as oversupply concerns overshadow the reopening of the US economy. Chevron and Exxon are both down a percent while Schlumberger is down 4%, reapproaching its 52 week low.  Schlumberger was upgraded last week at Rothschild & Co Redburn with a $48 price target. That would translate into a 33% return from current levels.

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