AMD hits $1 trillion market cap on AI chip rally

Advanced Micro Devices (NASDAQ: AMD) soared past a $1 trillion market capitalization for the first time on Monday as shares hit a record intraday high near $614, with investors piling back into AI semiconductors after a recent cool-down while AMD remains far behind Nvidia’s roughly $5 trillion valuation.

FINANCE desk — a second-tier AI chip name joining the trillion-dollar club shows markets still treat AI silicon as the core growth bet, even while labs argue about slowing the frontier.

Shares last reported up about 9–9.6% near $613, with an intraday high of about $613.92. Reuters via The Star had AMD last up 9.6% at $613.31, a record high. CNBC had the stock up about 9% and named the $613.92 intraday high as the print that pushed the company’s value just above $1 trillion.

AMD became the fourth U.S. Chipmaker to top a $1 trillion valuation, after Nvidia, Broadcom, and Micron, Reuters said.

Nvidia remains vastly larger. Reuters said Nvidia crossed $1 trillion in 2023 and is now the world’s most valuable company, worth more than $5 trillion. CNBC put Nvidia at about $5.4 trillion. It did not.

The move landed in a broader chip rally. Reuters via The Star said Intel jumped about 11.8%, Qualcomm rose 4.5%, and a broader chips index gained 2.7% to an over one-month high. An earlier Reuters carry had Intel up around 11%, Qualcomm up 4.1%, and the chips index up 2.6%.

Context, still Reuters: enthusiasm for chipmakers had cooled in recent months as markets scrutinized AI spending by hyperscalers — the big cloud companies that buy the chips — plus higher oil prices linked to the U.S.–Iran conflict and expectations of higher-for-longer interest rates. Thomas Hayes, chairman at Great Hill Capital in New York, told Reuters: “Money is moving back into the AI trade.” He said investors now see AI as the area that can work in a Federal Reserve-induced slowdown, and that “AMD is representative of that.”

CNBC noted a five-day winning streak, with shares up about 24% over that stretch, and said the stock is up more than 180% this year. Extra CNBC earnings color — second-quarter revenue, data-center sales, Lisa Su and Jensen Huang “double” comments — stays in Sources.

A finished session would show a closing price and a closing market cap. This filing is the same-day last-reported / intraday-high milestone.

Plain English for the rest of the card: market cap / market capitalization = the total value of all shares. NASDAQ: AMD = AMD’s U.S. stock ticker. chipmaker = a company that designs or makes semiconductors, the chips inside computers and AI servers. hyperscaler = a giant cloud company that buys those chips in bulk. chips index = a basket of semiconductor stocks, as Reuters used the phrase. intraday high = the highest price during that trading session, not the close. This filing is the $1 trillion print. It is not an AMD product launch and not a claim AMD passed Nvidia.