Chip stocks add $2 trillion in market value in second quarter
AI chip stocks surge as Micron, Intel and AMD post huge second-quarter gains See how investors are broadening their bet on AI infrastructure beyond Nvidia
Micron, Intel and Advanced Micro Devices posted sharp gains in the second quarter as investors increased exposure to companies tied to artificial intelligence beyond Nvidia.
Micron rose more than 240% and Intel climbed 216%, while AMD gained 186%. Together, the three chipmakers added about $2 trillion in market value, pushing them into the group of the most valuable U.S. tech companies.
The rally came as demand for AIrelated semiconductors broadened across the supply chain. Analysts said the move reflected investor interest in memory, processors and other infrastructure companies that may benefit from continued data center spending.