U.S. chip manufacturer AMD reached a trillion dollars in stock market value on Monday, driven by the artificial intelligence investment boom.
At around 3:10 PM GMT, AMD shares were up 9.4% to $612, extending a rally that added some $200 billion to its market value in just one week.
The California-based company, which announced projects with OpenAI and Anthropic, recorded a 50% increase in second-quarter revenues compared to the previous year, reaching $11.5 billion.
This was driven by its data center revenues more than doubling.
Even with the current rally, AMD's valuation remains far behind that of its rival Nvidia, which is approaching $5.5 trillion.
