Key Points
Advanced Micro Devices (AMD) shares rose 9.4% following reports that Meta’s AI agent app Muse reached the top of the free apps list in the Apple App Store on Monday morning. This surge is attributed to the increased demand for AMD’s CPUs, which are essential for running AI applications.
AMD’s recent management statements suggest a strong outlook for CPU sales, predicting a 50% growth in the server CPU market by 2030, totaling $220 billion. In their Q2 earnings call, CEO Lisa Su emphasized that agentic AI is expected to be the largest and fastest-growing segment in their market.
In Q2, AMD reported a 50% increase in sales, reaching $11.5 billion, and a 246% rise in non-GAAP diluted earnings per share, now at $1.66.
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