AMD hits $1T market cap, Arm and Qualcomm surge
4.3 Markets AMD hits $1T market cap, Arm and Qualcomm surge on AI demand, Intel rises, and Bitcoin rally boosts Coinbase and Robinhood shares.
AMD has reached a $1 trillion market capitalization for the first time, joining the ranks of Nvidia, Broadcom, and Micron among U.S. chipmakers to achieve this milestone. This surge was driven by robust demand for central processing units (CPUs), fueled by the growing adoption of artificial intelligence applications like Meta’s Muse, which require significant computing power for real-time inference. Arm Holdings and Intel also experienced notable gains, though neither crossed the $1 trillion threshold. Arm shares soared 16%, supported by record orders for its new CPUs and increased confidence in its role within AI data center infrastructure, despite ongoing concerns about its valuation. Qualcomm climbed 8% on strong AI chip demand, particularly from Amazon, and anticipation for the upcoming Snapdragon Summit. Intel benefited from AI enthusiasm and new technology partnerships. Additionally, Bitcoin’s rally contributed to a rebound in crypto-related stocks such as Coinbase and Robinhood, reflecting renewed investor interest in technology and AI equities.
