AMD Shares Soar 14% as Semiconductor Index Extends Record 17-Day Rally
AMD shares jumped 14% following Intel’s 23.6% Q1 stock surge, powered by a 22% rise in data center and AI revenue to $5.1 billion and partnerships with Google and Tesla. The Philadelphia Semiconductor Index extended its record-winning streak to 17 days, fueling a 42% rally that boosted AMD’s market momentum.
1. Intel Q1 Earnings Spark Sector Rally
Intel’s stock surged 23.6% after reporting Q1 revenue of $13.58 billion versus $12.36 billion expected, with data center and AI division revenue rising 22% to $5.1 billion and adjusted net income up 156% to $1.5 billion. New partnerships with Google and Tesla further reinforced investor optimism in chipmakers.
2. AMD’s Stock Gains
AMD shares climbed 14% as investors rotated into semiconductor names following Intel’s blowout results. The company’s exposure to AI-driven CPU demand underpinned the sharp move.
3. Semiconductor Index Sets Record
The Philadelphia Semiconductor Index achieved a record 17-day winning streak, marking a 42% gain since early April. Major chip names, including AMD, Nvidia, Micron and Broadcom, collectively accounted for 32% of the index’s market value.