Lates News

Driven by sustained growth in artificial intelligence demand, chip stocks broadly rose during U.S. trading hours, with AMD (AMD.O) surging more than 9% intraday to a record high of $613.92, pushing the company's market capitalization past $1 trillion. AMD is seen as one of the main competitors to AI leader Nvidia (NVDA.O) in the graphics processing unit (GPU) market. AMD became the fourth U.S. chipmaker to top $1 trillion in market value, after Nvidia, Broadcom (AVGO.O), and Micron Technology (MU.O). Nvidia crossed the $1 trillion mark in 2023 and is now the world's most valuable company, with a market capitalization exceeding $5 trillion. On Monday, most chip stocks rose in tandem. Intel (INTC.O) gained about 11% intraday, Qualcomm (QCOM.O) rose 4.1%, and the Philadelphia Semiconductor Index climbed 2.6% to a one-month high.