Advanced Micro Devices briefly surpassed a $1 trillion market capitalization on Monday as its shares reached a record $613.92, extending a five-day rally fueled by investor expectations for stronger demand for AI computing.
The milestone makes AMD the fourth U.S. chipmaker to cross the $1 trillion valuation mark, joining Nvidia, Broadcom and Micron.
The company has increasingly positioned itself as a broader AI computing provider, combining processors with networking equipment and complete systems.
The broader semiconductor sector also advanced Monday, with Intel rising about 11%, Qualcomm gaining 4.1% and the wider chip index reaching a one-month high.
Despite AMD’s milestone, Nvidia remains far larger, with a market value exceeding $5 trillion. AMD’s recent gains reflect growing investor interest in companies positioned to benefit from continued expansion of AI infrastructure and data-center spending.
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AMD crosses $1 trillion market cap as shares surge 9% https://t.co/uzcqyIFNv6
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