Shares of AMD and Intel jump over 25% this week as Wall Street diversifies bets beyond Nvidia in the AI infrastructure boom.
AMD and Intel shares climbed roughly 25% this week, outpacing Nvidia’s 9% gain, as investors broadened exposure to AI infrastructure plays. Micron and Corning also rallied, up 35% and 20% respectively, amid bets on sustained demand for memory and fiber-optic components.
Nvidia remains the dominant AI chipmaker, with revenue growth projected at 70% this fiscal year, but its 16% year-to-date gain trails peers. Intel has surged over 200% in 2024, while AMD and Micron have more than doubled, reflecting a shift toward a wider hardware ecosystem.
The rotation underscores expectations that data centers will require diverse advanced components, with memory shortages driving Micron’s $800 billion market cap milestone. Nvidia’s relative underperformance contrasts with its earlier dominance in the AI boom.