AMD surges 8% to a record, leading a chip rally fueled by a U.S.-Iran peace deal and strong AI product launches.
Advanced Micro Devices (AMD) shares jumped 8% to an all-time high of $558, pushing its market capitalization above $900 billion. The rally was part of a broader chip sector surge, with NVIDIA and Intel also gaining 4% and 3%, respectively.
The move followed a U.S.-Iran peace deal, which eased geopolitical tensions and spurred risk-on sentiment. AMD’s Ryzen AI Halo platform, priced at $3,999 and undercutting NVIDIA’s DGX Spark by $700, also contributed to the gains. The platform supports 200 billion parameter models and delivers 14% better tokens-per-second performance.
The Dow joined the rally, with chip stocks leading the advance. AMD’s outperformance marked a milestone as it surpassed key valuation thresholds for the first time.