AMD Stock Surges as Meta's AI Agent App Reaches Top Spot on Apple Store

Advanced Micro Devices (AMD) stock is surging today after Meta's AI agent app, Muse, reached the number one spot on Apple's App Store. This development has sent AMD shares up by 9.4% as of 10:57 a.m. ET.

The rise in popularity of AI agents like Muse could boost demand for AMD's CPUs, which are crucial for these types of tasks. Meta and AMD expanded their strategic partnership earlier this year to build additional AI infrastructure capacity, leveraging AMD's CPUs and GPUs.

AMD CEO Lisa Su recently highlighted the importance of CPUs in the company's future, stating that the server CPU market could grow by 50% by 2030, reaching a total addressable market (TAM) of $220 billion. She noted that agentic AI is the fastest-growing piece of this market.

AMD's sales jumped 50% to $11.5 billion in the second quarter, and non-GAAP diluted earnings per share rose 246% to $1.66. With early indicators showing that agentic AI is accelerating among consumers, AMD's optimism about the expanding CPU market seems well-founded.