By Anusuya Lahiri
Publication Date: 2026-01-09 17:07:00
Broadcom Inc. (NASDAQ:AVGO) and Micron Technology Inc. (NASDAQ:MU) rose Friday as a broad semiconductor rally gathered pace following public praise from U.S. President Donald Trump for Intel Corp. and its chief executive, Lip-Bu Tan.
In a Truth Social post after a White House meeting, Trump said he had “just finished a great meeting with the very successful Intel CEO, Lip-Bu Tan,” describing the U.S. government’s investment as profitable for taxpayers and part of a push to restore leading-edge chip manufacturing in the U.S.
Intel shares jumped nearly 9%, lifting sentiment across the sector. Broadcom climbed almost 3%, Micron gained more than 3%, and Advanced Micro Devices, Inc. (NASDAQ:AMD) edged higher.
The U.S. government first took a position in Intel last August through an $8.9 billion investment tied to unpaid CHIPS Act grants and manufacturing awards.
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