AMD's market value surpasses $1 trillion as shares climb 9%

Advanced Micro Devices (AMD) shares jumped 9% on Monday, reaching an intraday high of $613.92 and pushing the company's market value past the $1 trillion mark. The gain extends a five-day winning streak that has added roughly 24% to the stock price.

For the second quarter, AMD reported revenue of $11.54 billion, a 50% increase from the same period a year earlier, driven largely by sales of its artificial-intelligence chips. The Data Center segment posted $6.7 billion in sales, more than double the prior-year figure.

Despite the strong performance, AMD's market cap remains far below that of AI-chip leader Nvidia, which is valued at about $5.4 trillion. The broader AI hardware market continues to expand, even as regulators and public groups raise concerns about data-center energy use and the safety of large language models.