Advanced Micro Devices shares reached a record high on Thursday, marking the company’s longest winning streak since 2005.

The semiconductor company’s stock rose about 4% in early trading, briefly hitting a new intraday record before settling close to that mark. This puts the stock on track to close higher for a 12th straight session, its longest winning streak since 2005, with a gain of about 37% over that period.

This rally adds to gains that have already made AMD one of the top performers in the semiconductor sector over the past year. Shares are up more than 200% in the last 12 months and about 24% since the start of the year. The rise is fueled by steady investor interest in AI-focused chipmakers and, more recently, a broader recovery in tech stocks after tensions eased in the Middle East.

Thursday’s momentum got a boost from a strong quarterly earnings report by Taiwan Semiconductor Manufacturing, the world’s largest contract chipmaker. The company reported a sharp rise in profits and showed little sign of weaker demand. Many saw this as a positive sign for the chip sector, even though some individual stocks moved differently.

In summary, AMD’s current stock surge underscores its strong performance, but sustaining these gains will depend on its ability to maintain momentum against rivals like Nvidia and to achieve further customer adoption. The main takeaway is that while AMD has shown impressive growth, continued success will require ongoing execution in a competitive landscape.