Advanced Micro Devices (AMD) Surpasses $1 Trillion in Market Capitalization, Becoming Fourth U.S. Semiconductor Company to Do So

[Financial News]  

AMD's market capitalization surpassed $1 trillion on the 21st (local time).
AMD shares surged $55.70, or 9.95%, from the previous close to finish at $615.52. Based on the closing price, the company's market capitalization exceeded $1 trillion for the first time. The stock has climbed approximately 24% over five consecutive trading sessions.
It became the fourth U.S. semiconductor company to surpass $1 trillion in market capitalization, following NVIDIA, Broadcom, and Micron Technology.
AMD struggled despite reporting better-than-expected second-quarter results last month, but it successfully rebounded this month.
Second-quarter revenue rose 50% to $11.54 billion from $7.69 billion a year earlier. Revenue in the data-center segment, which includes AI semiconductors, surged 107% year over year to $6.7 billion.
AMD has surged more than 180% this year, leading the semiconductor rally as NVIDIA's gains have slowed. However, its market capitalization remains far below NVIDIA's $5.4 trillion.
Although concerns about AI safety have intensified and anxiety over future investment has grown as the Federal Reserve (Fed) moves back toward rate hikes, semiconductor demand has not cooled.
Lisa Su, AMD's chief executive officer, projected during last month's earnings call that data-center revenue next year would be twice this year's level. Jensen Huang, NVIDIA's CEO, also said semiconductor demand remains robust and expressed optimism that next year's revenue would double.
[email protected] Song Kyung-jae Reporter