Nvidia · Intel · AMD · CNBC Technology
Record chip rally rolls out $2 trillion in combined value to Micron, Intel and AMD in second quarter
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Chipmakers not named Nvidia soared in the second quarter as investors widened their artificial intelligence portfolios, with Micron and Intel more than tripling in value and Advanced Micro Devices not far behind.
Key facts
- Micron, one of three major computer memory producers, saw its shares rise over 240% during the quarter, adding roughly $920 billion in market cap
- The VanEck Semiconductor ETF (SMH) rose 71% in the period, the fund's best quarterly performance since it started trading in 2000
- Shares of Intel, the legacy maker of central processing units, jumped 216% in the quarter, resulting in an added $480 billion in market cap for the company
- AMD, Intel's rival in CPUs, added $615 billion in value after its stock price nearly tripled
Summary
Those three companies gained about $2 trillion in combined market cap in the period and are now the 10th, 11th and 12th most valuable U.S. tech companies. While AI chipmaker Nvidia remains the biggest company by market cap and continues to notch massive revenue growth, the stock only gained 15% in the second quarter. "The rotation out of AI hyperscalers into AI enablers has shifted investors' euphoria into semis, driving spectacular rallies," wrote Barclays analyst Anshul Gupta, in a note on Tuesday. Micron, one of three major computer memory producers, saw its shares rise over 240% during the quarter, adding roughly $920 billion in market cap.