AMD stock jumps, Circle plummets on stablecoin competition

Market Domination Host Josh Lipton tracks several of the day's top trending stock tickers, including Advanced Micro Devices (AMD) shares getting a lift after Wells Fargo analysts boosted their price target on the chipmaker's stock, while Circle Internet Group (CRCL) plummets on reported stablecoin competition from other firms.

Video Transcript

00:02 Speaker A

Time to cover some of today's trending top tickers brought to you by CBO.

00:06 Speaker A

Starting with shares of AMD. They are popping today after Wells Fargo analyst raised their price target on that stock to 615 from 505, citing AI momentum and sky high demand for CPUs.

00:19 Speaker A

AMD has been on a tear this year. It's up over 170% since January. It comes as the chip trade has carried the tech rally in the first half of 2026, leaving a lot of those AI hyperscalers behind.

00:30 Speaker A

Shares of stable coin issuer circle plunging on a report from Bloomberg that dozens of firms including Visa, Stripe, BlackRock, Alphabet and Coinbase are teaming up to issue a US dollar backed stable coin.

00:42 Speaker A

The new venture will be called Open Standard and its coin will be Open USD. All of the partners plan to integrate the stable coin into their systems once it's live later this year.

00:51 Speaker A

And finally, Digital Realty is taking a $3.5 billion stake in Blackstone data centers.

00:57 Speaker A

The firm will get 80% interest in two 96 megawatt data centers and 50% interest in another. Shares of that firm are down on the news.

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