The GraniteShares 2x Long AMD Daily ETF (AMDL) surged 5.52% to close at $7.07 on January 29, driven by a 3.02% rise in Advanced Micro Devices Inc. (AMD) shares, which reached $117.62. AMD's stock gained momentum following the announcement of deploying DeepSeek R1 models on its Ryzen AI processors and Radeon graphics cards, sparking investor interest in its AI capabilities. Despite a cautious outlook on Q2 guidance, analysts believe concerns are already priced in, with Wells Fargo maintaining an Overweight rating and a $165 price target. The semiconductor sector's focus on AI capex and the potential doubling of compute TAM to $500 billion further fueled optimism.