AMD Briefly Tops $1 Trillion Market Value

Advanced Micro Devices briefly surpassed a $1 trillion market valuation on Sept. 22 as its shares reached a record high amid renewed investor enthusiasm for companies powering artificial intelligence. AMD stock rose roughly 9% to about $614, extending a sharp September rally and making it the fourth U.S. chipmaker to reach the milestone after Nvidia, Broadcom and Micron. The rally reflects expectations that demand will grow for AMD’s AI accelerators, data-center systems and CPUs used to support AI inference workloads, helping the company compete with Nvidia and gain market share from Intel. AMD reported second-quarter revenue of $11.54 billion, up 50% from a year earlier, while data-center sales more than doubled to $6.7 billion. Other semiconductor stocks, including Intel, Arm and Qualcomm, also advanced as the broader AI-driven chip rally continued.