AMD Surges 8% to $503.89 as Venice CPU Hits 2nm Volume Production
ORCL•AMD shares climbed 8% to $503.89, crossing $500 for the first time and reaching an $821.6 billion market cap, just shy of JPMorgan’s $821.9 billion. Venice CPU entered volume production on TSMC’s 2nm node and CEO Lisa Su unveiled a $10 billion capacity expansion, fueling a 135% year-to-date rally.
1. Stock Breaks $500 Mark
AMD shares climbed 8% to close at $503.89, breaching the $500 threshold for the first time and reflecting strong momentum in chip stocks. The move capped a four-day rally that lifted the stock 22% over that period.
2. Market Cap Near JPMorgan
The rally pushed AMD’s market capitalization to $821.6 billion, narrowing the gap with JPMorgan’s $821.9 billion valuation. AMD now ranks ahead of Intel and Oracle in market cap among major tech firms.
3. Venice CPU 2nm Production
Venice, AMD’s next-generation CPU, has entered volume production on TSMC’s advanced 2nm node. This milestone makes Venice the first high-performance computing chip to reach production on TSMC’s latest process.
4. $10B Capacity Expansion Plan
CEO Lisa Su announced a $10 billion investment plan to expand capacity in partnership with TSMC, ASE and SPIL. The initiative aims to meet unexpectedly high CPU demand and support future growth.
