US chip stocks rally collectively, AMD joins the trillion-dollar market cap club

Odaily News: Driven by sustained growth in AI demand, chip stocks broadly rose during US trading hours. AMD (AMD.O) surged over 9% intraday, briefly hitting an all-time high of $613.92, pushing the company's market cap above $1 trillion. AMD is regarded as one of the primary competitors to AI leader Nvidia (NVDA.O) in the graphics processing unit (GPU) market. AMD becomes the fourth US chipmaker to surpass a $1 trillion market cap, following Nvidia, Broadcom (AVGO.O), and Micron Technology (MU.O). Nvidia crossed the $1 trillion mark in 2023 and has since become the world's most valuable company, with a market cap 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. (Jinshi Data APP)