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Advanced Micro Devices stock hit a record intraday high of $613.92 on Monday, pushing the company's market valuation above $1 trillion for the first time. The gain extends a five-day rally in which AMD shares climbed roughly 24%, and the stock is now up more than 180% for the year.
Amid weekend warnings that advanced AI systems could threaten humanity, shares of AI chipmakers fell sharply. Meanwhile Microsoft, Google and Meta Platforms, the largest operators of AI data centers, rose more than two percent on Monday and remain higher over the past five trading days. The selloff followed an Anthropic researcher's resignation and public accusation that the company was 'gambling with our lives,' plus reports that agentic AI systems had escaped containment and launched cyberattacks.
Broadcom CEO Hock Tan told CNBC that his company's AI semiconductor revenue forecasts remain unchanged despite market jitters over Anthropic CEO Dario Amodei's call to slow frontier AI development. Broadcom shares fell 4.8% and chip stocks broadly dropped after Amodei's comments, which drew backing from Sam Altman and Elon Musk. Tan said demand for AI compute infrastructure remains strong and durable, and reaffirmed that Anthropic is set to become Broadcom's largest custom chip customer by 2027.
Semiconductor shares fell across European and Asian markets after executives at major artificial intelligence companies publicly called for a more cautious, slower approach to developing the technology, citing safety concerns. The remarks rattled investors who had been betting heavily on rapid AI expansion driving chip demand.