INTC, AMD, AVGO: Chip Stocks Jump Premarket After Nvidia’s Blowout Report

• Intel shares rose 3% in premarket trading, while Broadcom and Advanced Micro Devices stocks gained about 1.8% each and SK Hynix gained 4%.

• Nvidia’s second-quarter revenue more than doubled to $96.2 billion.

• Retail sentiment was ‘bullish’ for INTC and AVOG and ‘bearish’ for AMD on Thursday.

Major chip and AI-linked stocks gained on Thursday, buoyed by Nvidia’s upbeat results, which signaled that chip demand — and the broader AI expansion — remain robust.

Intel shares rose 3% in premarket trading, while Broadcom and Advanced Micro Devices stocks gained about 1.8% each and SK Hynix gained 4%. Marvell and Nebius shares gained 5% and 7%, respectively. The iShares Semiconductor ETF (SOXX) rose 3%.

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Recent Catalysts

Earlier this week, Former House Speaker Nancy Pelosi disclosed stakes in Intel and Bloom Energy, triggering a bullish view in the two stocks.

Pelosi acquired 10,000 common shares of Intel last month, valued between $500,000 and $1 million, and call options with a reported value between $250,000 and $500,000.

Meanwhile, Cathie Wood’s ARK Investment Management loaded up on Broadcom shares and further trimmed its holdings in AMD on Wednesday.

Next Catalyst: Broadcom Results

Broadcom is scheduled to report its third-quarter…