India, Sept. 21 -- Advanced Micro Devices (AMD) stock briefly crossed $1 trillion in market value for the first time on Monday. AMD shares rose as much as 9% to an all-time high of $613.92. At that level, AMD's total market capitalization moved slightly above $1 trillion. The rally shows that investors are betting heavily on AMD's growing role in the fast-expanding AI computing market.

AMD has now become the fourth US chipmaker to reach a $1 trillion valuation. The other US chip companies that have crossed the milestone are Nvidia, Broadcom and Micron. Nvidia crossed the $1 trillion mark in 2023. Nvidia has since grown much further and is now the world's most valuable company, with a market value of more than $5 trillion, according to Re...