Stocks
AMD Hits $1 Trillion Market Cap as Nvidia Sat Out AI Rally
Advanced Micro Devices (AMD) reached a market capitalization of $1 trillion for the first time on Monday, peaking at $615.99 per share before easing back below that line.
The stock last traded at $609.65, up over 8%, giving it a market cap of $995 billion.
Nvidia, in contrast, gained only 2.33% and is still worth significantly more than AMD at $5.49 trillion.
This milestone makes AMD the fourth US chipmaker valued above $1 trillion, after Nvidia, Broadcom, and Micron.
Investors were chasing CPU makers, which led to a surge in demand for AMD's products.