From 24/7 Wall St. · Rich Duprey · · 50s
AMD Hits Trillion-Dollar Mark
AMD's 10% chip price hike pushes market cap to $992.4 billion, nearing trillion-dollar status.
In brief
AMD's 10% chip price hike pushes market cap to $992.4 billion, nearing trillion-dollar status. AMD's 10% price increase on AI chips and strong data center growth has driven its market cap to $992.4 billion, placing it within a rounding error of the trillion-dollar threshold. Originally reported by 24/7 Wall St..
AMD's Market Cap
Advanced Micro Devices now has a market cap of $992.4 billion.
Price Hike Catalyst
AMD raised prices 10% on AI accelerators and consumer GPUs.
Q2 Revenue Surge
AMD reported $11.54 billion Q2 revenue, up 50.1% year over year.
Data Center Growth
Data center revenue hit $6.718 billion, up 107% year over year.
Pricing Power
CFO Jean Hu noted double-digit growth in units and prices.
Market Reaction
Shares rose 8.67% to $607.97, clearing $600 for the first time.
The bottom line
AMD's 10% price increase on AI chips and strong data center growth has driven its market cap to $992.4 billion, placing it within a rounding error of the trillion-dollar threshold.
