The Philadelphia semiconductor index rose nearly 1% to a new high, driven by strong performances from AMD and Marvell at Computex.
The Philadelphia semiconductor index, SOX, reached a record high Wednesday, climbing nearly 1% in afternoon trading. Gains were led by AMD (AMD) and Marvell Technology (MRVL), fueled by developments at the Computex trade show in Taiwan.
The SOX, tracking the 30 largest U.S.-traded semiconductor stocks, has extended its rally amid broader tech sector strength. Earlier sessions saw mixed market performance, with the Dow Jones index declining on geopolitical tensions.
Chip stocks have outpaced broader indices in recent weeks, reflecting strong demand for advanced semiconductors in AI and data center applications.