AMD’s Market Value Tops $300 Billion on Wave of AI-Fueled Rally
- Stock is favored by Citi, which is ‘wildly bullish’ on chips
- Rally has AMD trading at a higher multiple than Nvidia
Advanced Micro Devices headquarters in Santa Clara, California.
Photographer: Justin Sullivan/Getty ImagesThis article is for subscribers only.
Advanced Micro Devices Inc. shares jumped Thursday, with the chipmaker extending a surge to hit its latest in a series of fresh records this year.
The stock rose 9.1%, a climb that resulted in the company’s market capitalization closing above $300 billion for the first time. Shares have more than doubled off an October low.