AMD stock crosses $1 trillion market cap for first time

AMD stock crosses $1 trillion market cap for first time

Mon, September 21, 2026 at 8:01 PM GMT+3 2 min read

Advanced Micro Devices crossed $1 trillion in market capitalization for the first time on Monday, as its stock hit a record intraday high of $613.92 on the strength of a five-day rally tied to AI chip demand.

AMD stock climbed as much as 10% on the day, a move that places the chipmaker alongside Micron Technology, Broadcom, Taiwan Semiconductor Manufacturing Company, and Nvidia in the exclusive club of semiconductor companies carrying valuations at or above $1 trillion. There are 15 other publicly traded companies worldwide valued at that level, according to Bloomberg.

The five-session run has added about 24% to AMD stock, bringing its year-to-date gain to more than 180%. Even so, AMD remains well behind AI chip leader Nvidia, which carries a market cap of about $5.4 trillion.

The rally spread across the sector on Monday. Intel shares surged up to 12% and Arm Holdings jumped as much as 14%, with the Philadelphia Semiconductor Index advancing more than 4%.

Part of the renewed investor enthusiasm for chip stocks stems from the rise of Meta Platforms' Muse AI Agent to the top of Apple's App Store free applications chart following its launch earlier this month, according to Bloomberg. The product's reception stoked demand for shares of companies supplying the processors needed to run agentic AI workloads. Meta stock rose more than 7% on Monday. Meta is AMD's second-biggest customer, accounting for about 5.5% of its revenue, according to Bloomberg.

AMD's AI-driven data center business has been the engine behind its recent growth. The company reported first-quarter revenue of $10.25 billion, up 38% year over year, with its data center segment generating $5.78 billion — a 57% increase from the prior year. AMD CEO Lisa Su said at the time that the data center unit had become the central engine of revenue and profit expansion.

Growth continued in the second quarter. Second-quarter revenue reached $11.54 billion, a 50% rise compared with the same period last year, while the Data Center segment accounted for $6.7 billion of that total, more than doubling its year-ago result. On last month's earnings call, Lisa Su told investors the company is targeting a doubling of its data center revenue by 2027.

Meanwhile, the infrastructure spending wave driving chip demand continues to show little indication of losing momentum. Nvidia CEO Jensen Huang added to the bullish sentiment last week, forecasting that his company would ship twice as many chips in the coming year.