Philadelphia Semiconductor Index Rises More Than 7% as AMD Surges

U.S. chip stocks extended their rally Monday, Nov. 9, lifting the Philadelphia Semiconductor Index more than 7% in intraday trading as AMD and Broadcom surged while Nvidia fell.

AMD gained more than 12%, while Broadcom rose more than 9%. Micron Technology climbed more than 7%, and Intel advanced more than 5%. Qualcomm, ASML and TSMC each rose more than 4%. Nvidia declined more than 3%, moving in the opposite direction from the other chip stocks in the snapshot.

The figures describe moves during trading rather than closing results.

Gains in other chip stocks carried the benchmark higher despite Nvidia’s decline at that point in the session.