Advanced Micro Devices has crossed the $1 trillion market-capitalization mark for the first time, as investors continue to bet on the chipmaker’s growing role in AI computing.
AMD shares jumped nearly 10% on Monday, briefly reaching about $613.92 before closing at $615.52.
AMD is now the fourth U.S. chipmaker to reach a $1 trillion valuation, after Nvidia, Broadcom and Micron. The company’s shares have surged about 185% this year as demand for AI chips, server processors and data-center hardware continues to grow.
AMD has also expanded beyond individual chips, offering more complete AI computing systems that include processors, networking equipment and related hardware. Rising demand for server CPUs used alongside GPUs has also helped AMD gain ground in the data-center market.
The milestone comes as investors return to AI-related stocks after months of concerns over massive technology-company spending and the broader economic outlook.
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