AMD Tops $1 Trillion Market Value Intraday
AMD shares jumped Monday. They rose about 9.6% to a record high during trading.
This pushed AMD's total value above $1 trillion for a short time. AMD became the 14th US company to reach that value.
AMD was on track to close above $1 trillion. This would be a first for the company.
Investors are optimistic about AMD's growing role in artificial intelligence computing. AMD now sells complete AI systems instead of just individual chips. AMD has also gained computer chip market share from Intel.
Klear Note — Market capitalization means the total value of a company’s publicly traded shares. Intraday means it crossed $1 trillion during trading, before the market closed.
Key Terms 5
- AMD Advanced Micro Devices, a company that makes computer chips.
- market value Total worth of all a company's shares combined.
- intraday Happening during the trading day, before markets close.
- artificial intelligence Computer systems that can perform tasks like human thinking.
- Intel A major competing computer chip maker in the United States.