AMD's market cap currently stands at $188 billion after shares rose nearly two per cent in Tuesday's session. Intel's market cap is $182 billion.

It is the second time in a week AMD's market value has climbed above Intel -- the first time it happened was a week ago.

AMD has been convincing Wall Street that it is a better bet and last week closed on its $35 billion acquisition for Xilinx. The company has posted better financials than Intel (for some time) as it has gained market share in key areas (notably in servers).

AMD's sales and profits rose 68 per cent and 117 per cent, in 2021. The company outlined 31 per cent revenue growth for 2022 and gross profit margins of 51 per cent.

Intel's 2021 sales and earnings increased two per cent and seven per cent, respectively. The company sees sales in 2022 rising about two per cent. Profits are expected to drop 36 per cent as Intel further builds out its chip-making capacity.