Advanced Micro Devices (AMD) touched a $1 trillion market value for the first time on Monday, peaking at $615.99 a share before easing back below that level. The stock last traded at $609.65, up over 8%, for a market capitalization of $995 billion, according to BeInCrypto, while Nvidia gained 2.33% and Intel and Arm Holdings also advanced. AMD became the fourth U.S. chipmaker valued above $1 trillion, after Nvidia, Broadcom and Micron.

Investors rotated into CPU suppliers on signs of stronger AI inference demand, while TrendForce said AMD warned customers on September 18 of price increases near 10% on AI accelerators, graphics chips and motherboard chipsets from the fourth quarter.