Record chip rally adds $2 trillion in combined value to Micron, Intel and AMD in second quarter - CNBC

In Q2 2024, chipmakers other than NVIDIA experienced a significant rally, reflecting investors expanding their AI portfolios. Micron, Intel, and AMD saw their combined market value rise by $2 trillion... Read original →

The Q2 2024 semiconductor rally reflects a structural shift in AI investment—from hyperscaler applications to foundational hardware. Micron’s surge underscores that HBM and DDR5 demand from AI training is no longer speculative but contractual. Intel’s revival stems from U.S.-based 3nm EUV capacity offering supply chain insurance amid geopolitical friction. AMD, despite GPU gaps, leverages CPU-plus-accelerator synergy to embed itself in AI server racks. This capital reallocation pressures NVIDIA to open its software moat while spurring TSMC and Samsung to scale advanced packaging. Over the next 12–24 months, firms mastering high-bandwidth memory interfaces, chiplet interconnects, and power efficiency will shape AI infrastructure standards—while foundries overly reliant on single clients risk eroding bargaining power as data center CAPEX soars.