AMD Joins NVIDIA In Elite $1 Trillion Club As Wall Street Bets Big On AI
AMD hit a major financial milestone this week by crossing the $1 trillion market capitalization threshold for the first time in the company's long and storied history. Driven by a nearly 10% single-day surge, AMD shares reached a record high of $616.69 on Monday before closing at $615.52, capping off a rally that has seen the stock nearly triple in value since the start of the year.
The milestone places AMD in rare territory. The company is now the fourth U.S. semiconductor company to join the trillion-dollar club, following NVIDIA ($5.48 trillion), Broadcom ($1.73 trillion), and Micron ($1.18 trillion), the latter of which also saw its share price surge this year after disbanding its consumer-facing Crucial division to ride the AI wave and focus its efforts on more lucrative data center clients.
AMD is experiencing similar enthusiasm on Wall Street, stemming from its accelerating momentum in the AI sector. While...
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