AMD Crosses $1 Trillion Market Cap for the First Time

AMD has crossed the $1 trillion market capitalization threshold for the first time, following a sharp rally in its share price, according to reports from Tom's Hardware and TechPowerUp.

AMD closed on Friday at around $557, or $559.91 per share according to TechPowerUp. When markets opened on Monday, shares jumped to roughly $607, reaching a session high of $615.98, a gain of close to 10% from Friday's close. That move pushed the company's valuation over the $1 trillion mark. Tom's Hardware reported that AMD's shares rose about 9% within the first few hours of Monday trading, and that the stock had climbed roughly 29% over the past month, with 21% of that increase coming in the previous five days.

TechPowerUp reported that the milestone places AMD as the world's 16th most valuable company by market capitalization, joining companies such as Broadcom, Tesla, NVIDIA, and Apple in the trillion-dollar group. Tom's Hardware noted that AMD reaches the mark ahead of rival Intel, and joins other chip-sector names including NVIDIA, Broadcom, and SK hynix.