Nvidia Stock Surges as Intel’s Earnings Boost Semiconductor Sector
Nvidia's stock climbed as much as 5.2% on Friday, nearing its all-time high of $212.19 and pushing its market capitalization above $5 trillion. The rally was fueled by Intel's stronger-than-expected Q1 earnings, which sent ripples across the chip sector.
Intel's stock soared 20% after reporting its third consecutive revenue and EPS beat, with CEO Lip-Bu Tan highlighting surging demand for CPUs due to the shift from inference-based AI to agentic AI workflows. This optimism spilled over to peers—AMD and Arm Holdings each gained around 14%.
The Philadelphia Semiconductor Index extended its winning streak to 18 days, reflecting broad sector momentum. Nvidia, now valued $1 trillion above Alphabet, is poised for a record close if gains hold.
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