AMD hits $1 trillion as Meta's Muse AI tops App Store

The two gains tell different stories. AMD's move reflects growing confidence that it can capture a larger portion of the AI-compute market alongside Nvidia, helped by demand for server CPUs and by its Instinct AI accelerators and EPYC processors. Meta's rally has a sharper company-specific catalyst: Muse, launched earlier this month, quickly became the top free app in Apple's U.S. App Store.

That traction matters because Meta has faced persistent questions over whether its enormous AI infrastructure investments will generate adequate returns. Muse gives investors a tangible example of how that spending could extend Meta beyond its core advertising business. The article notes that more capable AI agents could require substantially greater CPU resources, potentially expanding the addressable market for AMD's EPYC server processors.

The stakes now hinge on whether the momentum holds. AMD has already run up 180% year-to-date and hit record highs of over $600 a share, so much of the optimism looks increasingly priced in. Meta, by contrast, trades at a 23X forward earnings multiple and has faced pressure this year from rising costs and heavy capital spending — meaning its case may rest on whether Muse's early traction can turn into durable revenue.