AMD Surges 142% in 1H 2026, Beating Nvidia's 4% Gain on AI Demand
Updated
Updated · Barchart · Jul 4
AMD Surges 142% in 1H 2026, Beating Nvidia's 4% Gain on AI Demand
3 articles · Updated · Barchart · Jul 4
Summary
AMD has become one of the S&P 500's top first-half performers, with shares up 142% year to date versus just over 4% for Nvidia.
Q1 results helped fuel that rally: revenue rose 38% to $10.3 billion, earnings grew more than 40%, and free cash flow more than tripled.
Data-center momentum remains the key driver, with segment revenue up 57% in Q1 and server CPU sales climbing more than 50% as demand builds for Instinct GPUs and EPYC chips.
AMD expects that growth to continue, projecting server CPU revenue to rise more than 70% in Q2 and targeting annual revenue growth above 35% over the next three to five years.
The main constraint is valuation: AMD trades at 87.9 times forward earnings versus Nvidia's roughly 22.7, though analysts still rate the stock a consensus Strong Buy.