AMD Shares Surge 14% on Intel AI Data Center Beat
AMD shares climbed 14% after the semiconductor sector rallied on Intel’s Q1 beat. The rally followed Intel’s data center and AI division posting 22% revenue growth to $5.1 billion and drove the Nasdaq-100 up 1.8% while the Dow underperformed.
1. AMD Stock Jumped 14%
AMD shares surged 14% on the back of a sector-wide chip rally, marking one of its largest single-day gains in recent months. Investors flocked to the stock as optimism around AI-driven computing demand peaked.
2. Intel Q1 Earnings Spur Rally
The rally was triggered by Intel reporting its data center and AI division revenue grew 22% to $5.1 billion, with adjusted net income up 156% to $1.5 billion. That beat on both top and bottom lines fueled broad semiconductor buying.
3. Nasdaq-100 Outpaces Dow
Semiconductor strength helped lift the Nasdaq-100 by 1.8%, while the Dow lagged due to limited chip exposure. This divergence highlighted the market’s focus on companies leading AI and data center growth.