On September 21 (local time), AMD experienced a remarkable surge in its stock price, with its market capitalization surpassing the $1 trillion mark for the first time during trading hours. Although the gains diminished as the market neared closing, causing the market capitalization to retreat below $1 trillion, the closing stock price still settled at $615.52, representing a new high since June 30. Since Lisa Su assumed leadership of the struggling AMD in 2014, the company has undergone a transformative development, with its market capitalization soaring over 370 times from its nadir in the summer of 2015. The substantial increase in stock price was primarily fueled by the successful execution of AMD’s AI computing power strategy. The company’s quarterly revenue reached $11.5 billion, marking a 50% increase year-over-year; its net profit stood at $2.3 billion, a staggering 163% surge from the previous year. Notably, the data center business excelled, with quarterly revenue hitting $6.7 billion, a 107% increase year-over-year, accounting for 58% of the total revenue. The operating profit margin reached 31%, establishing itself as the cornerstone of the company’s revenue and profit. AMD has formed strategic partnerships with several industry titans, including OpenAI, Meta, and Anthropic. In September, multiple mainstream cloud service providers announced price increases, further underscoring the burgeoning demand for AI computing power and reinforcing optimistic market expectations for AMD. Meta’s launch of the consumer-grade AI agent Muse has garnered considerable attention, fostering a market consensus on the imminent large-scale adoption of AI agents and driving incremental demand for AMD’s CPUs. As AMD’s second-largest customer, Meta announced a multi-year cooperation agreement with AMD in February 2026, with plans to deploy AMD Instinct GPUs boasting up to 6 gigawatts of computing power. The first batch of products, featuring 1 gigawatt of computing power, is expected to be shipped in the second half of 2026, incorporating MI450 architecture GPUs customized and optimized to meet Meta’s specific requirements.