Advanced Micro Devices briefly crossed a $1 trillion market capitalization on Monday for the first time, capping a sharp AI-driven rally that also lifted Meta Platforms after its Muse assistant topped free U.S. app download charts.

AMD shares surged about 10% to an intraday high near $615.52, CNBC reported, pushing the chipmaker’s value just above the trillion-dollar mark. The stock has gained roughly 25% over a five-day winning streak and more than 180% year to date, though it remains far behind Nvidia’s roughly $5.4 trillion valuation. Semafor noted AMD became the fourth U.S. chipmaker above $1 trillion as traders piled into AI names. Meta rose more than 11% as Muse led Apple’s free app charts, helping the Nasdaq notch its first record close since June.

Fundamentals behind the chip move include AMD’s recent results: second-quarter revenue of $11.54 billion, up 50% year over year, with Data Center sales of $6.7 billion, up 107%. CEO Lisa Su said last month the company expected to double data center sales in 2027; Nvidia’s Jensen Huang separately said he expected to double chip unit sales next year. Semafor tied the semiconductor advance to global AI memory demand, including South Korean chip exports that helped drive record early-September shipments.

Reuters Morning Bid described the combination of Muse’s reception and softer oil prices as recharging AI stocks after weeks of handwringing about catastrophic AI risks. The SOX chip index rose more than 4% Monday, aided by data showing South Korean exports up 78.3% in the first 20 days of September, with semiconductor shipments up 259.4%. Broader markets still faced counterweights from elevated energy prices and yields, and attention is shifting to Thursday’s Trump–Xi summit and UN-week diplomacy that could further move oil. The Top Stories framing emphasizes the market milestone and Muse-led sentiment shift rather than purely sectoral chip commentary.