AMD Stock Has Nearly Tripled in 2026. Now It’s Worth $1 Trillion

TLDR

• AMD stock surged 10% on Monday, hitting a record high of $615.52 and crossing the $1 trillion market cap milestone for the first time.
• The move caps a five-day winning streak in which AMD has gained around 25%.
• AMD is now the fourth US chipmaker to cross $1 trillion, joining Nvidia, Broadcom, and Micron.
• Q2 revenue came in at $11.54 billion, up 50% year-over-year, with Data Center revenue up 107% to $6.7 billion.
• AMD is up around 185% in 2026, though it still trails Nvidia’s $5.4 trillion market cap by a wide margin.

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AMD crossed the $1 trillion market cap threshold for the first time on Monday, as the stock jumped 10% to an intraday high of $615.52. The move pushed AMD into an exclusive club of chipmakers to reach the milestone.

Advanced Micro Devices, Inc., AMD

The stock has now risen around 25% over a five-day stretch, one of its strongest runs of the year.

AMD is the fourth US chipmaker to top $1 trillion in valuation. Nvidia got there first in 2023 and is now the world’s most valuable company at around $5.4 trillion. Broadcom and Micron also sit in the club.

BREAKING: Advanced Micro Devices stock, $AMD, officially crosses above $1 trillion in market cap for the first time in history.

This puts the stock up +30,400% over the last 10 years.

$10,000 invested in AMD in 2016 would be worth $3,050,000 today. pic.twitter.com/iyYLaVZWUw

— The Kobeissi Letter (@KobeissiLetter) September 21, 2026

AMD stock is up around 185% in 2026, far outpacing the Nasdaq’s 15.8% gain and placing it among the top S&P 500 performers this year.

The rally comes after a rocky patch. AMD fell last month following its Q2 earnings report, which beat expectations but offered guidance that came in short of some investors’ lofty forecasts.

Strong Data Center Growth Driving the Rally

Q2 revenue hit $11.54 billion, up 50% from $7.69 billion a year ago. The Data Center unit drove much of that, posting $6.7 billion in sales, up 107% year-over-year.

AMD said it expects data center sales to accelerate in the second half of 2026. CEO Lisa Su said last month the company expects to double data center sales by 2027.

Investor sentiment around AI spending has shifted. Thomas Hayes, chairman at Great Hill Capital, said money is moving back into the AI trade. He noted that investors see AI as one of the few areas that can hold up in a slower economic environment.

Broader Chip Sector Rallies

AMD was not alone on Monday. Intel jumped around 11.8% and Qualcomm rose 4.5%. The Philadelphia Semiconductor Index gained 2.7%, hitting a one-month high.

AMD has also been expanding beyond standalone chips, moving into complete AI systems that combine processors, networking gear, and related hardware. That push is seen as a more direct challenge to Nvidia’s dominance.

On the CPU side, growing demand for central processing units used alongside GPUs in inference servers has helped AMD take market share from Intel.

AMD currently trades at around 41 times its 12-month forward earnings, below its 10-year average of 44 and well above Nvidia’s 16.3 times forward earnings.