AMD is nearing a $1 trillion market cap after raising prices by 10% on AI hardware, supported by massive multi-gigawatt commitments from hyperscale customers like OpenAI and Meta.
AMD raised chip prices by 10%, guided Q3 revenue above consensus, and reported strong data center growth, pushing its market cap toward $1 trillion.
Advanced Micro Devices shares surged 8.7% to $607.97 after the company announced a 10% price increase across its AI accelerators and GPUs. The move, coupled with a strong Q2 performance where Data Center revenue jumped 107%, has brought the chipmaker to the brink of a $1 trillion market valuation.
The rally is driven by a 10% price increase on AI accelerators and GPUs, alongside robust demand from hyperscale partners like OpenAI, Meta, and Anthropic.