Advanced Micro Devices (AMD) shares jumped 9% on Monday, lifting the company’s market capitalization above $1 trillion for the first time. The stock reached an intraday high of $613.92, setting a fresh record.
The chipmaker is now on a five-session winning streak, with the shares up about 24% over that span. The rally marks a turnaround for investors after the stock fell last month even though the company posted second-quarter results that beat expectations.
AMD reported $11.54 billion in revenue for the second quarter, up 50% from $7.69 billion a year earlier. Artificial intelligence chips were at the center of that growth. Sales in the company’s Data Center unit rose 107% year over year to $6.7 billion.
The stock is up more than 180% this year, making 2026 a standout year for AMD. Even so, the company remains far behind AI chip leader Nvidia, whose market capitalization stands at about $5.4 trillion.
The surge in chip stocks has been fueled by the rapid buildout of artificial intelligence infrastructure, a trend that still shows few signs of slowing. That momentum has persisted despite public backlash against data centers and concerns about the safety of large language models.
AMD CEO Lisa Su said on the company’s earnings call last month that AMD expects to double data center sales in 2027. Last week, Nvidia CEO Jensen Huang gave another sign of strong silicon demand, saying he expects his company to double the number of chips it sells next year.
