AMD share prices have taken the steepest jump in their entire history, rising a massive 52% in just 24 hours. This follows a recent Q1 2016 quarterly earnings report detailing new SoC (Socket on Chip) designs, as well as revelations about the potential capabilities of its Polaris GPUs.

As we noted earlier, AMD is claiming some mightily impressive performance gains for its next graphics cards, aided by its jump to the 14nm process. That’s effectively a two generation leap from the current 28nm standard, skipping 20nm entirely.

AMD expects this new generation of GPUs to be a massive success, bumping up its earnings forecasts amid predictions it will be clawing back market share from Nvidia.

That’s not all that had shareholders excited either. AMD’s earnings are strong and they’re only going to get stronger with the announcement it has SoC designs ready for no less than three new games consoles. One of the SoC designs will be ready in 2016, while the other two will roll out in 2017. Presumably that relates to the Nintendo NX in 2016, then the PlayStation 4K and the Xbox One revision sometime in 2017. The latter two are still officially filed under ‘rumours’, but expect all that to change at E3 2016 in June.

There’s also a new licensing deal with various Chinese companies that is going to be worth more than $293 million to AMD.

It’s about time team red had some positive news so this is great to see. AMD has been playing second fiddle to Intel and Nvidia in the CPU and GPU markets respectively, but this could all change in 2016 with Polaris and Zen.