AMD hits $1 trillion market cap as stock continues 5-day rally

AMD hits $1 trillion market cap as stock continues 5-day rally Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Key Points AMD topped a $1 trillion market cap for the first time. The chipmaker is riding a five-day winning streak, with shares up about 24% over that stretch. In this article AMD Follow your favorite stocks CREATE FREE ACCOUNT Lisa Su, chairwoman and CEO of Advanced Micro Devices (AMD), delivers the opening keynote speech at Computex 2024, Taiwan's premier tech expo, in Taipei on June 3, 2024. I-Hwa Cheng | Afp | Getty Images Advanced Micro Devices stock surged on Monday, pushing shares to a record high and topping a $1 trillion market cap benchmark for the first time. The chip giant's shares hit an intraday high of $613.92, which boosted the company's value just above $1 trillion. AMD is riding a five-day winning streak, during which shares have gained about 24%. The recent rally has been a welcome sight for investors, who saw the stock fall last month after the company reported second-quarter earnings that beat expectations. The company reported revenue of $11.54 billion during Q2, up 50% from $7.69 billion a year ago, and its artificial intelligence chips were at the heart of that growth. AMD's Data Center unit reported sales of $6.7 billion, up a whopping 107% from a year ago. The chipmaker is having a blockbuster year, with the stock up more than 180%. Stock Chart Icon Stock chart icon AMD stock chart watch now VIDEO 4:25 04:25 AMD slumps despite record quarter Squawk on the Street Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.