AMD Stock Price Surges, Hits Record High

Strong Q1 Earnings and Positive Outlook Drive Optimism

NasdaqGS: AMD 166.90 (+0.15, 0.09%)

Advanced Micro Devices Inc. (AMD) stock reached new heights on Monday, closing at a record high of $166.90 on the NasdaqGS exchange. The surge came after the company reported strong first-quarter earnings and provided a positive outlook for the future.

AMD reported revenue of $5.9 billion, up 71% year-over-year, and net income of $1.8 billion, up 126% year-over-year. The company's strong performance was driven by growing demand for its server chips, which power data centers and cloud computing services.

In a statement, AMD CEO Lisa Su expressed optimism about the company's future prospects. "We are well-positioned to continue delivering industry-leading products and solutions that address the growing demand for high-performance computing," she said.