AMD's stock closed above $1 trillion in market capitalization on September 21, making it the fourth US chipmaker to reach that milestone. The surge follows a 107% jump in data center revenue, with AI customers including Meta, Microsoft, OpenAI and Anthropic driving demand for its server chips.
Advanced Micro Devices crossed the $1 trillion market capitalization threshold on September 21, becoming the fourth US chipmaker to reach that level. Shares surged roughly 10% on the day to an intraday record near $616, closing around $613. AMD now sits alongside Nvidia, Broadcom, and Micron in the trillion-dollar semiconductor club, and is roughly the 14th to 16th company globally to hit the milestone.
Data center revenue doubles the rally
AMD's shares are up approximately 180-187% year-to-date through mid-to-late September 2026, far outpacing the broader Nasdaq. The engine behind that move is AMD's data center business, which posted $6.7 billion in revenue during the second quarter of 2026, a 107% year-over-year increase driven by demand for EPYC server CPUs and Instinct GPUs. Total company revenue for the quarter reached $11.54 billion, a 50% jump from the same period last year.
Meta, OpenAI, Anthropic, and Microsoft are all AMD customers. Anthropic alone plans to deploy up to 2 gigawatts of MI450-series GPUs in 2027, and AMD expects to more than double its data center revenues by 2027.
Lisa Su's long game
CEO Lisa Su took the reins at AMD in 2014, inheriting a company most analysts had written off. The strategy was methodical: first, reclaim competitive footing in the CPU market with the Zen architecture, then use that momentum to push into data center and AI computing. In July 2026, AMD launched its Helios rack-scale AI system, a move that signals ambitions beyond selling individual chips and positions the company as a systems-level competitor to Nvidia's full-stack AI infrastructure.
Where AMD fits against Nvidia
Nvidia remains the leader in AI training hardware, and its CUDA software ecosystem creates switching costs that make customer retention easier. AMD's challenge has always been less about hardware specs and more about software maturity and ecosystem lock-in. With Broadcom and Micron already in the trillion-dollar club, each company occupies a different niche: Nvidia in training GPUs, Broadcom in custom AI accelerators, Micron in high-bandwidth memory, and AMD increasingly in both CPUs and GPUs for data center AI workloads.
Source: Crypto Briefing
Trading involves risk.
Risk Disclaimer
