AMD ripped 9% on Monday, printing a fresh intraday peak at $613.92 that briefly pushed the company's market value beyond the $1 trillion mark. That sprint extends a five-day run of gains of about 24% and caps a year where the stock has already jumped more than 180%.
The rebound comes after shares slipped last month even though AMD's second-quarter report topped expectations. In Q2, revenue totaled $11.54 billion, a 50% increase compared with $7.69 billion in the same quarter last year. AI hardware is doing the heavy lifting, with the Data Center unit bringing in $6.7 billion, a 107% increase from the prior year.
Even after this surge, AMD still trails the category leader, with Nvidia sitting around a $5.4 trillion market cap. The AI buildout powering chip demand shows little sign of slowing, despite local pushback against data centers and ongoing worries about how safe large language models are. On AMD's call last month, CEO Lisa Su said the company is targeting 2027 data center revenue that is twice its current level.
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And just last week, Nvidia's Jensen Huang said he expects his company to sell twice as many chips next year. For your money, that points to an AI cycle that remains very much alive, with winners likely to be the ones shipping the most silicon into those data centers.
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