AMD Tops $1 Trillion as Meta's Muse Agent Ignites a Chip Rally

Advanced Micro Devices closed above a $1 trillion market capitalization for the first time on Monday, becoming the fourth U.S. chipmaker to reach the milestone. The stock rose roughly 10% as traders moved into artificial intelligence names following the debut of Meta Platforms' Muse AI assistant, which took the top free-download spot on Apple's app store.

The move was broad across the sector. Intel gained about 12%, Arm Holdings climbed 17%, and the Philadelphia Semiconductor Index rose 4.3% for its fifth consecutive advancing session. Meta itself jumped more than 11%. The Nasdaq Composite added 2.26% to register its first record close since June, while the S&P 500 rose 1.49% and the Dow Jones Industrial Average gained 0.71%.

For AI infrastructure suppliers the session extended a run that has been building since last week's commentary on constrained memory supply. Super Micro Computer, which sits in the Dyatome Capital portfolio, trades against the same demand backdrop, though its shares have lagged the broader semiconductor complex despite a reported record backlog.