Intel Climbs 4%, AMD Rises 3%, NVIDIA Ticks Up as Chip Stocks Shrug Off Rising Rate Hike Odds

Intel shares jumped 4% and AMD rose 3% as chip stocks gained despite rising odds of a Federal Reserve rate hike, driven by strong revenue growth expectations for NVIDIA and AMD. The iShares Semiconductor ETF (SOXX) outperformed the broader tech sector, rising 3% while the Invesco QQQ Trust (QQQ) was nearly flat, reflecting investor rotation into semiconductors.

Why it matters: Intel's year-to-date gain of 148% highlights confidence in its foundry turnaround thesis, though its external foundry revenue remains low at $293 million.