Philadelphia Semiconductor Index gains 2.6% amid AMD-Microsoft deal and Google’s new AI chip development.
Semiconductor stocks rebounded Monday, with the Philadelphia Semiconductor Index climbing 2.6% by midday. The recovery followed last week’s sell-off, which pushed the sector into bear market territory.
AMD rose after announcing a deal with Microsoft to deploy its Helios rackscale AI computing platform later this year. The system aims to compete with Nvidia’s dominant NVL72 rack systems. Meanwhile, Google shares gained 2.5% on reports of a new AI chip, Frozen v2, designed to integrate Gemini AI directly for improved performance.
Earnings from Google and Intel this week may provide further insight into data center investment trends and chip demand among hyperscalers.