AMD Stock Surges as Meta's AI Agent App Tops App Store Charts

Advanced Micro Devices (AMD) stock saw a significant surge on Monday morning, rising by 9.4% as of 10:57 a.m. ET. The increase in AMD's share price is attributed to the popularity of Meta's new AI agent app, Muse, which has reached the top spot among free apps on Apple's App Store.

Muse relies heavily on central processing units (CPUs) for its tasks, which could boost demand for AMD's CPUs. The company's management is optimistic about long-term CPU sales, and the success of Meta's AI agent app lends credibility to their views.

AMD CEO Lisa Su previously stated that the server CPU market could grow by 50% by 2030, reaching a total addressable market (TAM) of $220 billion. The expanding market is driven in part by the growing demand for agentic AI, which AMD is well-positioned to capitalize on due to its strategic partnership with Meta.