SANTA CLARA, September 22 — Advanced Micro Devices crossed a $1 trillion market capitalization for the first time, according to a report published Tuesday, as the chipmaker’s stock extended a five-day winning streak. The bottom line: AMD is now the latest U.S. technology company to clear the trillion-dollar threshold, joining a short list that includes Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta and Broadcom. The milestone was first reported by Reuters on Tuesday.
AMD’s shares climbed steadily across the five sessions leading up to Tuesday, reflecting sustained investor demand for semiconductor stocks tied to artificial intelligence and data-center growth. The rally has added tens of billions of dollars to AMD’s market value.
Market capitalization is calculated by multiplying shares outstanding by the stock price, and at approximately $1 trillion, AMD’s shares have more than doubled over the past 12 months, outperforming the broader semiconductor index.
From $20 Billion to $1 Trillion
The figure that matters most may be the starting point. When Lisa Su took the helm as CEO in 2014, AMD was valued at roughly $20 billion. Its market value has grown more than tenfold since.
Founded in 1969 and headquartered in Santa Clara, California, AMD went public in 1972. Under Su, the company expanded from a distant second in PC and server processors to a major supplier of AI accelerators, competing directly with Nvidia.
Its rise has been fueled by EPYC server processors, which have taken share from Intel in data centers, and by the Instinct line of AI chips used in large-scale AI training and inference. In 2022, AMD completed its $49 billion acquisition of Xilinx, a deal that broadened its portfolio into adaptive computing and embedded systems. More recently, the company has been ramping up production of its MI300 series AI accelerators, which have attracted orders from major cloud providers and server manufacturers.
The AI Rally Lifts the Sector
The trillion-dollar milestone comes amid a broader rally in semiconductor stocks, driven by expectations of continued spending on AI infrastructure by hyperscale data-center operators. Nvidia became the first chipmaker to reach a $1 trillion market cap in May 2023 and has since grown to more than $3 trillion. Broadcom also crossed the $1 trillion mark in December 2024.
AMD’s move above $1 trillion makes it the latest entrant to the club, though its market value remains well below that of Nvidia and Broadcom. The company’s competitors include Nvidia in AI accelerators, Intel in CPUs, and a range of custom chip designers at cloud companies.
AMD’s stock trades on the Nasdaq under the ticker AMD. Investors will note that the trillion-dollar milestone is a symbolic threshold, but it underscores the scale of the AI-driven demand that has reshaped the semiconductor industry. Analysts expect AMD’s data-center revenue to continue growing as it ships more MI300 chips and as customers adopt its next-generation processors.
What to watch next: whether AMD can hold the trillion-dollar mark, and whether the AI infrastructure spending that lifted it there keeps pace with the orders now flowing to its MI300 line.
