Five years ago, Advanced Micro Devices Inc. ranked as the 222nd largest company in the S&P 500. Now, it stands at No. 22.
The company finished Thursday with a market value above $300 billion for the first time, marking the latest milestone in an impressive run for the chip maker. AMD’s stock
AMD,
rose 9% in Thursday afternoon trading, translating to a market value of $311 billion.
See also: AMD CEO Lisa Su just sold $20 million in stock. Was it ‘opportunistic’?
Like many hot chip plays that have seen soaring stock performance recently, AMD has made a big charge up the ranks of the largest U.S. companies over the past few years. Five years ago, AMD ranked as the 222nd largest in the S&P 500
SPX
by market capitalization, and four years ago, it ranked 114th largest. AMD stood in the No. 58 spot only a year ago.
AMD’s big Thursday rally came on a strong day for semiconductor stocks broadly, especially names that have been buzzy as alternative stock plays to Nvidia Corp.
NVDA,
in the artificial-intelligence craze. Super Micro Computer Inc.
SMCI,
and Marvell Technology Inc. shares
MRVL,
each gained 6.1%, while Arm Holdings PLC shares
ARM,
advanced 5.4%.
The PHLX Semiconductor Index
SOX,
meanwhile, was up 2.4%.
Shares of AMD were moving higher yet in after-hours trading Thursday after Dell Technologies Inc.
DELL,
offered some upbeat commentary.
“We are also seeing strong interest and orders for AI-optimized servers equipped with the next generation of AI GPUs, including [Nvidia’s] H200 and [AMD’s] MI300X,” Dell Chief Operating Officer Jeff Clarke said on the company’s earnings call Thursday afternoon.
See also: Dell’s big quarter, fueled by surge in AI-server demand, sends stock soaring 15%
