AMD Reaches $1 Trillion Market Cap as U.S. Chip Stocks Rally

U.S. stocks closed higher on September 21, with the Nasdaq Composite gaining 2.26% and the Philadelphia Semiconductor Index surging 4.29%. Semiconductor shares rallied strongly: Arm Holdings rose over 17%, Intel gained more than 12%, Meta advanced over 11%, and Qualcomm climbed over 9%.

AMD rose about 10%, pushing its market capitalization above $1 trillion for the first time, making it the fourth U.S. chip company to join the trillion-dollar club.