AMD hits record high, market cap tops $1 trillion intraday
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On September 21, U.S. stock indices opened higher, led by large-cap tech and semiconductor stocks. AMD's share price hit a record high of $613.924, pushing its market capitalization above $1 trillion for the first time. The surge was driven by AMD's continued investment in AI computing, including expanded partnerships with OpenAI, Anthropic, and Meta, as well as the launch of its MI400 series GPU and Helios rack-scale AI system, boosting its data center business. Intel rose 10% on a reported partnership with AU Optronics for MicroLED advanced packaging technology. Meta gained over 7%, and the Philadelphia Semiconductor Index rose 2.29%. In commodities, international oil prices fell sharply, with NYMEX WTI crude dropping over 3% to $92.28 per barrel. Analyst Gao Jian of Shandong Qizhi Futures attributed the decline to easing short-term supply concerns but noted that the underlying bullish logic remains intact, with medium-term strength dependent on Middle East geopolitical developments. Gold prices also declined.
Source report
U.S. stock indices rose broadly at the start of trading on September 21, driven by gains in large-cap technology stocks and a strong rally in the semiconductor and optical communications sectors.
Market Overview
As of 22:09 Beijing time on September 21, data from Wind showed:
- Dow Jones Industrial Average: +0.28%
- Nasdaq Composite: +1.19%
- S&P 500: +0.71%
Big Tech and Semiconductor Stocks Rally
The "Magnificent Seven" tech stocks index rose 1.34% in early trading. Key movers included:
- Meta: +7%
- Tesla: +3%
- Google-C and Amazon: +1% each
- Apple, Microsoft, and NVIDIA: Slightly higher
The Philadelphia Semiconductor Index gained 2.29%, with notable performances in the optical communications sector:
- ARM: +12%
- Intel: +10%
- AMD: +9% (hit an all-time high)
- Qualcomm: +4%
- Lumentum: +5%
- Corning: +4%
- Coherent: +3%
- Micron Technology and Marvell Technology: +2% each
AMD Surpasses $1 Trillion Market Cap
AMD's stock price reached a high of $613.924 per share during the session, pushing its total market capitalization above $1 trillion for the first time. The company has been expanding its AI computing capabilities, forming partnerships with OpenAI, Anthropic, and Meta, and launching the MI400 series GPUs and Helios rack-scale AI systems, driving rapid growth in its data center business.
Intel and AUO Collaborate on MicroLED Technology
Market sources reported that Intel has entered into a partnership with AU Optronics (AUO) to jointly develop advanced MicroLED packaging technology.
European Markets Mostly Higher
European indices also posted gains:
- FTSE 100: +0.58%
- CAC 40: +0.66%
- DAX: +0.89%
Commodities: Gold and Oil Decline
Precious Metals
- London Spot Gold: -0.89% at $4,338.37/oz
- COMEX Gold Futures: -1.1% at $4,376.3/oz
- London Spot Silver: -0.28%
- COMEX Silver Futures: -0.62%
Crude Oil
International oil prices fell sharply:
- NYMEX WTI Crude Oil (front-month): -3.96% at $92.28/barrel
- Brent Crude Oil (front-month): -2.95% at $96.36/barrel
Gao Jian, an oil researcher at Shandong Qizhi Futures, commented that the continued decline in oil prices reflects a cooling of short-term concerns over supply disruptions. However, the underlying factors supporting the earlier price rally remain intact. In the short term, oil prices may continue to fluctuate within a correction range. In the medium term, the strong foundation for oil prices has not weakened, but whether fundamentals can sustain the rally depends on developments in the Middle East geopolitical situation.
(Source: China Securities Journal)
Source
中国证券报Eastern
Part of this Story
AMD Hits Record High, Market Cap Tops $1 Trillion on AI Expansion; Intel, Meta Surge