AMD Reaches $1 Trillion Market Cap
Advanced Micro Devices (NASDAQ:AMD) achieved a market capitalization of $1 trillion on September 21, 2023, making it the 14th company in the U.S. to reach this milestone. This significant growth has unfolded since it crossed the $100 billion mark in November 2020, demonstrating a dramatic rise steered by the expanding chip market, particularly amid the AI boom.
The company’s data center revenue surged 107% year-over-year to $6.7 billion in Q2 2023, while client processor revenue increased by 23% to $3.1 billion during the same period. Mercury Research reports AMD’s share of the client CPU market rose to 30.3% in Q2 2023, up from 23.9% the previous year. Despite a 31% decline in gaming revenue to $779 million, AMD anticipates recovery with the launch of next-generation consoles expected by late 2027.
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