Advanced Micro Devices reaches $1T market cap amid AI boom

AMD’s stock crossed the $1 trillion market capitalization threshold on September 21, making it the fourth US chipmaker to reach that rarefied altitude. Shares surged roughly 10% on the day to an intraday record near $616, closing around $613. The company now sits alongside Nvidia, Broadcom, and Micron in the trillion-dollar semiconductor club, and is roughly the 14th to 16th company globally to hit the milestone. The numbers driving the rally AMD’s year-to-date stock performance tells the story in one stat: shares are up approximately 180-187% through mid-to-late September 2026, dramatically outpacing the broader Nasdaq. The engine is AMD’s data center business, which posted $6.7 billion in revenue during the second quarter of 2026. That’s a 107% year-over-year increase, driven by demand for EPYC server CPUs and Instinct GPUs. Total company revenue for Q2 came in at $11.54 billion, a 50% jump from the same period last year. The client roster reads like a who’s who of the AI arms race. Meta, OpenAI, Anthropic, and Microsoft are all AMD customers. Anthropic alone plans to deploy up to 2 gigawatts of MI450-series GPUs in 2027. AMD expects to more than double its data center revenues b...