Stock Market Update

[BRIEFING.COM] The major averages continue to chart session highs this morning.

Advanced Micro Devices (AMD 407.16, +51.90, +14.61%) is powering to new all-time highs after a standout Q1 report, extending its recent surge with shares now up over 100% since the start of April. The fabless chipmaker beat on the top and bottom lines, with revenue increasing 37.8% year-over-year to $10.25 billion. Q2 guidance was also nicely above expectations, with revenue guided to $10.90-11.50 billion, but the more bullish takeaway appears to be the longer-term commentary around Data Center drivers, particularly server CPU demand as inference and agentic AI workloads scale.

This was a standout report from AMD. Beyond the upside results and guidance, the key driver behind the move appears to be the longer-term commentary around Data Center, particularly server CPUs. The updated CPU outlook suggests a much stronger demand environment than previously anticipated, with inference and agentic AI workloads increasing the need for CPU compute alongside GPUs. Overall, the report strengthens AMD's position as a broader AI infrastructure player. The sharp surge does raise the bar significantly, and execution around supply, margins, the next-generation ramp, and customer deployments will be closely watched. Still, the upside results, and significantly improved long-term outlook are driving shares today.

The PHLX Semiconductor Index is up 2.8%, and the broader information technology sector (+1.6%) remains one of the best-performing S&P 500 sectors today.