Advanced Micro Devices crossed $1 trillion in market capitalization for the first time on Monday, driven by a five-day rally in AI chip demand that pushed its stock up 10% to a record $613.92. AMD's data center segment, which has seen explosive growth of over 50% year-over-year, is fueling the company's ascent alongside broader infrastructure spending on AI chips.
AMD stock surged 9.4% after Meta's AI agent app Muse reached the #1 free app on Apple's App Store, boosting expectations for CPU demand. The popularity of agentic AI applications aligns with AMD's bullish outlook on server CPU market growth, which the company projects could expand 50% by 2030 to a $220 billion TAM.