AMD Tops $900B Market Cap For First Time As Ryzen AI Halo Challenges Nvidia DGX Spark

• AMD’s Ryzen AI Halo developer platform supports Windows 11, allowing users to run top AI models locally on a computer the size of an Apple Mac mini.
• The Ryzen AI Halo is powered by the Ryzen AI Max+ 395 processor and features 128GB of unified memory.
• AMD claims that the Ryzen AI Halo includes support for running up to 200 billion parameter AI models locally, which is on par with Nvidia’s DGX Spark.

Advanced Micro Devices Inc. (AMD) surged past $900 billion in market capitalization for the first time on Monday as it started selling a new product that challenges Nvidia Corp.’s (NVDA) DGX Spark.

The stock is on track to post its third session of gains on Monday and is set to breach a near-term resistance level around $542. AMD had a great 2026 so far, having gained over 156% this year.

AMD's Ryzen AI Halo developer platform is now available for $3,999, undercutting Nvidia's DGX Spark by $700. The Ryzen AI Halo gives developers a lower-cost alternative to Nvidia's DGX Spark for running large AI models locally.

AMD shares were up more than 8% in Monday’s opening trade, with the stock hitting an all-time high of $558.37.

How AMD’s Ryzen AI Halo Compares With Nvidia's DGX Spark

AMD's Ryzen AI Halo allows users to run large AI models locally on a computer roughly the size of Apple's Mac mini and supports Windows 11, a feature Nvidia's DGX Spark lacks.

The Ryzen AI Halo is powered by the Ryzen AI Max+ 395 processor and features 128GB of unified memory. AMD claims that the Ryzen AI Halo includes support for running up to 200 billion parameter AI models locally, matching Nvidia's stated capability for DGX Spark.

AMD also claims that Ryzen AI Halo offers up to 14% better performance in terms of tokens per second when compared to Nvidia DGX Spark across multiple AI models.

Ryzen AI Halo also offers more flexibility to users with its support for Windows 11 as well as Linux, while DGX Spark supports Linux only.

Wall Street Turns Bullish On AMD

Monday's gains in AMD shares came after a pair of bullish analyst notes last week highlighted AMD's growing AI opportunity.

Citi upgraded AMD to ‘Buy’ from ‘Neutral’ last week and lifted its price target to $575 from $460, saying the market is underestimating the company's GPU potential.

The firm believes that AMD is emerging as a legitimate second source in the AI accelerator market and is positioned to win a substantial portion of Meta's business. Citi added that AMD is still largely viewed as a CPU stock, leaving room for further upside as investors increasingly recognize its AI GPU opportunity.

Analysts at BofA raised their price target on AMD to $560 from $500 and maintained a ‘Buy’ rating, citing a larger server CPU opportunity driven by agentic AI.

The firm increased its 2030 server CPU market forecast to more than $170 billion from $125 billion, arguing that AI agents will accelerate demand for both x86 and Arm-based processors.

What Retail Traders Think About AMD

Retail sentiment on Stocktwits around AMD trended in the ‘neutral’ territory at the time of writing.

AMD stock is up 156% year-to-date, while NVDA stock is up 12%. The S&P 500 ETF (SPY) is up 26% over the past 12 months, while the Invesco QQQ Trust ETF (QQQ) is up 41%.

The iShares Core S&P 500 ETF (IVV) is up 26% during this period.

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