AMD shares rose by 9% on Monday, reaching a record high of $613.92 per share. This surge pushed the company's market capitalization past the $1 trillion milestone for the first time. The stock has seen a five-session winning streak, gaining approximately 24% during that period, and has risen by over 180% since the beginning of the year.
Despite this growth, AMD remains behind Nvidia, which currently holds a market capitalization of approximately $5.4 trillion. However, AMD has surpassed Intel in valuation, as Intel's market capitalization stands at $644 billion. A decade ago, Intel's market value was roughly 30 times larger than that of AMD.
The company reported second-quarter revenue of $11.54 billion, marking a 50% increase from the $7.69 billion recorded in the same period last year. The data center division was a primary growth driver, contributing $6.7 billion in sales, which represents a 107% year-over-year increase.
AMD CEO Lisa Su stated that the company expects sales of data center solutions to double by 2027. This aligns with broader industry trends, as Nvidia CEO Jensen Huang recently projected that his company would also double its chip sales volume in the coming year, driven by the ongoing demand for artificial intelligence technologies.
