Mint ·
Chip stocks surge: Intel jumps 10%; Marvell, AMD and Nvidia extend gains
Major US chip stocks rallied on September 17, led by Intel's 10% rise to $111. AMD also gained 7% to $547. The recovery follows heavy losses due to AI development concerns, but easing Treasury yields and sustained growth in AI infrastructure have boosted investor sentiment.
Major US chip stocks have remained higher on Wall Street on Thursday, 17 September, extending their recovery from a sharp sell-off earlier in the week.
The extended rally was led by Intel, whose shares surged 10% to hit a day's high of $111 apiece, their highest level in more than two months. The gains were extended across the AI chip segment, with Marvell Technology rising for a third consecutive session and gaining another 8% to $248.
Advanced Micro Devices (AMD) also extended its winning streak to a fourth day, rallying 7% to $547 and moving closer to its record high of $584. Other chip stocks, including Micron Technology and Sandisk, also advanced, gaining 6.5% and 7%, respectively. Nvidia also joined the rally with 3% surge and extends winning run to third day.
