AMD reaches $1 trillion valuation on AI boom

AMD reached a $1 trillion market valuation Monday as investors drove up chip stocks linked to artificial intelligence, with its shares up 9.4 percent at $612 near 1510 GMT.

The California-based chip company has announced ventures with OpenAI and Anthropic. It reported second-quarter revenue of $11.5 billion, up 50 percent from a year earlier, helped by data center revenue more than doubling.

AMD said when it released results in early August that it expected data center sales to accelerate in the second half of 2026.

The latest rise extended a surge that has added about $200 billion to AMD's valuation in a week. AMD still trails rival chipmaker Nvidia, whose valuation currently approaches $5.5 trillion.