--- title: "The AI computing power chain steps into the 2nm era! AMD fires the first shot for 2nm data center CPUs, and the bullish wave on Wall Street is becoming increasingly fierce" type: "News" locale: "en" url: "https://longbridge.com/en/news/287185688.md" description: "AMD announced that its EPYC processor \"Venice,\" based on TSMC's 2nm technology, has begun mass production, becoming the world's first 2nm data center CPU. At this time, with the AI tools launched by Anthropic expected to explode in 2026, the demand for data center CPUs has surged, leading to a supply shortage. Wall Street's bullish sentiment towards AMD, Intel, and Arm has increased, with the stock prices of the three major CPU giants rising significantly" datetime: "2026-05-21T08:48:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287185688.md) - [en](https://longbridge.com/en/news/287185688.md) - [zh-HK](https://longbridge.com/zh-HK/news/287185688.md) --- # The AI computing power chain steps into the 2nm era! AMD fires the first shot for 2nm data center CPUs, and the bullish wave on Wall Street is becoming increasingly fierce According to Zhitong Finance APP, American PC and data center high-performance chip leader AMD (AMD.US) announced on Thursday that the next-generation AMD EPYC processor "Venice," based on its long-term foundry partner TSMC's 2nm advanced process technology, has begun ramping up production. According to AMD's official statement, the EPYC "Venice" CPU is the 6th generation EPYC data center CPU, the world's first 2nm process-level data center CPU, and also the "world's first 2nm process-level HPC/data center CPU to enter the ramp-up stage of mass production," marking the imminent large-scale commercial production of 2nm-level data center CPUs. As AMD fires the first shot for 2nm advanced process-level data center CPUs, it coincides with the significant launch of super AI agent tools like Claude Cowork and OpenClaw by Anthropic, which are expected to explode in 2026, pushing data center CPUs into a severe supply-demand imbalance. Against the backdrop of a surge in demand for data center CPUs, Wall Street financial giants are increasingly bullish on the two x86 architecture CPU super giants—Intel (INTC.US) and AMD (AMD.US)—as well as Arm Holdings (ARM.US), the owner of the ARM instruction set architecture. This year, the stock prices of these three CPU giants have all seen significant increases, with Intel's stock price rising by as much as 222% so far in 2026. For the past two years, the AI narrative has been almost monopolized by GPUs, with CPUs once seen as the "supporting role" in the AI arms race; however, as open-source agent-based AI workflows like OpenClaw dominate inference workloads, data orchestration, task scheduling, memory access, network communication, and multi-tool invocation, the market has fully realized that without powerful CPUs as the system's core, GPU clusters cannot operate efficiently. This essentially marks the return of CPUs from being "undervalued infrastructure" to the center stage of chip technology, carrying a very obvious "Renaissance" retro wave connotation. With the explosive popularity of open-source super AI agent tools like OpenClaw, the wave of AI agents is rapidly sweeping the globe, and the bottleneck in AI computing power architecture is shifting from GPU-centric matrix multiplication throughput to data center CPUs focused on control flow, task orchestration, and memory/IO coordination, leading to a severe supply-demand situation for high-performance CPUs aimed at ultra-large-scale AI data centers. ![1779352919(1).jpg](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260521/1779352946617508.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) As AI agents become popular worldwide, the main line of AI computing power investment is shifting from "single-point computing power competition centered around GPUs" to "full-stack computing power systems driven by AI agents." The next round of excess alpha returns will no longer belong solely to the strongest leaders in the AI GPU/AI ASIC fields but will systematically spread to data center CPUs, DRAM/NAND/HBM storage, AI PCBs, liquid cooling systems, data center optical interconnect systems, ABF substrates/glass substrates, and extensive wafer foundry across the full-stack AI computing power infrastructure layer In this shift of the AI main narrative, CPUs, optical interconnects, and storage chips may be the biggest winners. **AMD Teams Up with TSMC! AI Computing Infrastructure Enters the 2nm Era** The EPYC "Venice" is the industry's first HPC product to enter the ramp-up phase of mass production using TSMC's advanced 2nm process technology, and it is the 6th generation EPYC data center CPU. However, it is important to note that "ramp-up phase" does not equal "already fully mass shipped." It typically means that the product has moved from the tape-out, bring-up stage, and validation stage into the production ramp-up and commercialization preparation stage, getting closer to formal large-scale supply to customers, but still requires ramp-up in yield, packaging, platform certification, customer validation, and shipping rhythm. AMD's official announcement on May 21 indicated that its next-generation AMD EPYC processor, codenamed "Venice," is ramping up mass production in Taiwan based on TSMC's most advanced 2nm chip process technology, with plans to ramp up mass production at TSMC's Arizona wafer fab in the future. This milestone in AMD's data center CPU roadmap demonstrates AMD's continued progress in delivering the leading performance and energy efficiency required for the next generation of cloud computing, enterprise, and AI computing infrastructure. AMD emphasized that "Venice" is the industry's first HPC product to enter the mass production phase using TSMC's most advanced 2nm process technology. Dr. Lisa Su, AMD's Chair and CEO, stated, "Advancing the ramp-up of 'Venice' on TSMC's 2nm advanced chip process technology marks an important step in accelerating the next generation of AI infrastructure. As AI and agent-based workloads rapidly expand, customers need platforms that can move faster from innovation to mass production. Our deep collaboration with TSMC is helping AMD deliver the speed and scale required for this era, bringing leading computing technology to market." As AI applications expand from training and inference to increasingly complex agent-based workloads, CPUs are becoming more critical in scaling AI infrastructure, responsible for coordinating data flow, networking, storage, security, and system orchestration across the entire data center. As AMD continues to enhance its momentum in the server market, the ramp-up of "Venice" has arrived, reflecting the growing demand from customers for EPYC processors to support modern large-scale cloud computing inference, enterprise HPC, and hyperscale AI data center deployments. Based on Zen 6/Zen 6c and TSMC's 2nm, the Venice is publicly roadmaped and reported to scale up to 256 cores, an increase of about 33% compared to the current EPYC Turin's maximum of 192 cores; AMD's roadmap also claims that Venice can deliver approximately 1.7 times performance improvement, about 1.3 times thread density improvement, and support higher memory bandwidth, PCIe Gen6, and other platform capabilities. Compared to existing data center CPUs, Venice is positioned significantly higher than the current AMD EPYC Turin and Intel Xeon 6 Granite Rapids/Sierra Forest generation. The current 5th generation EPYC has already shown strong competitiveness against Xeon 6 in many multi-threaded server workloads, and AMD's own comparison page lists the performance comparison of the 5th generation EPYC against Intel Xeon 6 in the multi-core range; If Venice delivers 256 cores, 2nm efficiency, and Zen 6 IPC/platform upgrades, it will theoretically continue to amplify AMD's advantages in high-density cloud, HPC, databases, virtualization, AI head-node, and inference orchestration servers. AMD also plans to further expand TSMC's 2nm process technology in its data center CPU roadmap through "Verano." "Verano" is also the 6th generation EPYC processor, optimized for performance leadership per dollar per watt. This processor is designed to support cloud and massive AI computing workloads and is expected to introduce advanced memory innovations, including LPDDR, on the AMD EPYC platform to provide the CPU performance, bandwidth, and efficiency required by increasingly power-constrained workloads and applications. Venice is the mainline/early 2nm data center CPU of the 6th generation EPYC, while Verano is a subsequent expanded version that emphasizes memory innovations such as LPDDR/SOCAMM2 to meet the needs of Agentic AI and future Instinct GPU platforms. **The two major x86 chip giants are heading into a wild bull market together** Wall Street analysts are expanding the narrative of AI computing power infrastructure from "GPU dominance/single-core driven" to a full-stack computing power reassessment of "AI GPU/ASIC + CPU + HBM/DRAM/NAND storage chips + optical interconnect dominant data center high-speed connection system collaboration." Against the backdrop of a massive explosion in data center CPU demand, Wall Street financial giant Citigroup significantly raised its 12-month target prices for the two x86 architecture CPU super giants—Intel (INTC.US) and AMD (AMD.US) this week. This financial giant also significantly upgraded its expectations for the data center CPU and overall CPU market size in the latest research report. At the 54th Global Technology, Media, and Telecommunications Conference hosted by Wall Street financial giant JP Morgan, Intel CEO Pat Gelsinger stated that Intel 18A (the advanced chip process below 2nm, at 1.8nm level) has supported Panther Lake mass production, with yields improving by about 7% each month, exceeding Intel's internal expectations. Gelsinger also mentioned that as the focus of AI computing power infrastructure shifts from training to inference, CPUs are becoming increasingly important and indispensable in the AI era, with the CPU to GPU configuration ratio accelerating from 1:8 towards 1:1, and even reaching 4:1. Additionally, Intel's business planning shows that it is actively pursuing ASIC business, offering customized AI CPU or AI GPU chip solutions. The shift of AI from training to inference and Agentic AI will significantly increase the strategic weight of CPUs in AI data centers. GPUs are responsible for large-scale matrix calculations, but CPUs handle scheduling, I/O, memory management, task orchestration, security isolation, database access, network stacks, and multi-agent workflow execution; as AI applications transition from "single inference" to "continuous running software labor," CPU demand will rise from traditional server upgrade cycles to AI infrastructure expansion cycles Citigroup's latest model also echoes this point: it predicts that the total addressable market size for data center server CPUs (CPU TAM) will expand from $29.3 billion in 2025 to $131.5 billion in 2030, with a compound annual growth rate of approximately 35%. The firm has significantly raised its target price for Intel from $95 to $130, and for AMD from $358 to $460. The analyst team led by Citigroup's senior analyst Atif Malik added in a report to clients: "The data center CPU market dominated by AI agents like OpenClaw is expected to grow exponentially at an astonishing compound annual growth rate of 185%, reaching $59.4 billion by 2030, and is projected to capture 45% of the overall market share by 2030, becoming the fastest-growing segment." TipRanks' compilation of Wall Street analysts' target prices shows that AMD's highest target price reaches $625—corresponding to about 40% potential upside. AMD's stock price has surged by 110% this year, making it one of the "AI super stocks" in the global market. The highest target price of $625 from Wall Street comes from Baird analyst Tristan Gerra, who recently raised AMD's target price from $300 to $625 and maintained an "Outperform" rating. His bullish logic is primarily based on the unprecedented surge in CPU/GPU demand driven by Agentic AI, as well as the revaluation of AMD's data center platform. Analyst Tristan Gerra stated that AMD's opportunities in AI server CPUs, GPUs, and accelerated computing platforms are being repriced, especially as the market begins to view AMD as a key beneficiary of the "CPU+GPU+super platform solutions" among the leaders in the AI computing industry chain, driven by the wave of AI inference, Agentic AI, EPYC data center CPUs, Instinct GPUs, and the expansion of next-generation AI infrastructure ### Related Stocks - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) - [AMUU.US](https://longbridge.com/en/quote/AMUU.US.md) - [SMH.US](https://longbridge.com/en/quote/SMH.US.md) - [SOXX.US](https://longbridge.com/en/quote/SOXX.US.md) - [AMDL.US](https://longbridge.com/en/quote/AMDL.US.md) - [PSI.US](https://longbridge.com/en/quote/PSI.US.md) - [XSD.US](https://longbridge.com/en/quote/XSD.US.md) - [SOXQ.US](https://longbridge.com/en/quote/SOXQ.US.md) - [SOXL.US](https://longbridge.com/en/quote/SOXL.US.md) - [TSM.US](https://longbridge.com/en/quote/TSM.US.md) - [ARM.US](https://longbridge.com/en/quote/ARM.US.md) - [C.US](https://longbridge.com/en/quote/C.US.md) - [JPM.US](https://longbridge.com/en/quote/JPM.US.md) - [C-R.US](https://longbridge.com/en/quote/C-R.US.md) - [JPM-M.US](https://longbridge.com/en/quote/JPM-M.US.md) - [JPM-C.US](https://longbridge.com/en/quote/JPM-C.US.md) - [JPM-D.US](https://longbridge.com/en/quote/JPM-D.US.md) - [JPM-L.US](https://longbridge.com/en/quote/JPM-L.US.md) - [8634.JP](https://longbridge.com/en/quote/8634.JP.md) - [JPM-K.US](https://longbridge.com/en/quote/JPM-K.US.md) - [JPM-J.US](https://longbridge.com/en/quote/JPM-J.US.md) ## Related News & Research - [BUZZ-Citigroup sees server CPU market reaching $132 billion by 2030, Intel to lead](https://longbridge.com/en/news/286771641.md) - [As a New CPU Surge Takes Wall Street, Tiger Global Just Took a New Stake in Intel Stock](https://longbridge.com/en/news/286806428.md) - [AMD Announces Production Ramp of Next-Generation AMD EPYC Processor “Venice” on TSMC 2nm Process Technology | AMD Stock News](https://longbridge.com/en/news/287162048.md) - [Intel Is Supposed to Be in a New CPU Era But Its Losing Market Share to AMD and Arm](https://longbridge.com/en/news/286646639.md) - [AMD set to benefit from agentic AI CPU demand surge](https://longbridge.com/en/news/286655054.md)