AMD Inc. (AMD) became the fourth U.S. chipmaker to reach $1 trillion in market cap. Stephen Sopko believes the strong rally in shares to reach that milestone shows a recognition that AMD is much more than a traditional chipmaker. Meta Platforms (META), a major customer for AMD, developing its Muse AI agent is what Stephen considers a strong case for the need for CPUs long-term. He then turns to Nvidia (NVDA) and Intel (INTC) chip development and ways they highlight a lasting need for AI data centers.