technology
AMD, Intel, Micron and Corning Shares Rise as AI Infrastructure Spending Broadens Beyond GPUs
Advanced Micro Devices, Intel, Micron and Corning posted sharp weekly gains this week as investors bet on the next phase of artificial intelligence infrastructure. AMD raised its long-term server CPU growth forecast to 35 percent while Micron crossed an $800 billion market capitalization for the first time.
May 8, 4:07 PM·2m read1 source
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Advanced Micro Devices and Intel each gained about 25 percent this week while Micron jumped more than 37 percent and Corning climbed about 18 percent. All four stocks have more than doubled in value this year, with Intel leading at well over 200 percent.
Nvidia, the world's most valuable company, gained 8 percent this week and stands 15 percent higher in 2026 while analysts describe the moves as a changing of the guard in AI hardware.
Memory shortages have dominated recent trading. Micron, a 47-year-old company, blew past an $800 billion market capitalization for the first time this week and is now up over 750 percent in the past year. CEO Sanjay Mehrotra told CNBC in March that key customers are only getting 50 percent to two-thirds of their requirements because of supply issues.
The memory market is largely dominated by Micron, Samsung and SK Hynix, all of which are in the midst of historic rallies. Demand for central processing units has returned to the spotlight as momentum shifts from chatbots to AI agents. Bank of America estimates the data center CPU market could more than double from $27 billion in 2025 to $60 billion in 2030.
AMD has long led the CPU charge in servers and its quarterly results this week exceeded estimates on earnings, revenue and guidance due to strong data center growth. AMD CEO Lisa Su said on the earnings call that AMD now expects 35 percent growth over the next three to five years in the server CPU market, up from the 18 percent growth the company forecasted in November.
"Agents are really driving tremendous demand in the overall AI adoption cycle, and we're very excited to be in the middle of it," Su told CNBC's Squawk on the Street on Wednesday.
