AMD Market Cap Tops $1 Trillion as AI Demand Lifts Shares to Record High

Advanced Micro Devices (AMD) briefly crossed a $1 trillion market capitalization for the first time on Monday, September 21, 2026, as its stock surged 9% to $610, with an intraday record of $613.92. AMD becomes the fourth U.S. chipmaker to reach the milestone, following Nvidia, Broadcom and Micron. Nvidia, the first to cross the threshold in 2023, now exceeds $5 trillion in market value, making it the world's most valuable company. AMD has expanded from selling individual chips to offering full systems combining processors, networking equipment and related hardware to compete more directly with Nvidia in GPUs. Rising AI inference server demand for CPUs paired with GPUs has also helped AMD gain share from Intel. AMD shares have rebounded more than 26% since falling over 7% following an early-August revenue forecast that topped Wall Street estimates but failed to satisfy elevated investor expectations. Chip stocks rallied broadly Monday: Intel rose about 11%, Qualcomm gained 4.1%, and the Philadelphia Semiconductor Index climbed 2.6% to a one-month high.