Intel shares surged 7 per cent on Friday, a day after the chipmaker's unexpectedly strong quarterly report heralded a turnaround in fortunes after a long, margin-sapping struggle due to plummeting PC sales and a highly competitive data center market.
Intel's results lifted Advanced Micro Devices and Nvidia by 2.3 per cent and 1.5 per cent, respectively, while Qualcomm rose 1.5 per cent. However, that was largely due to the booming artificial intelligence market, which Intel has missed out on because of its small presence in graphics-processing units and other AI specialist chips that enable the technology behind ChatGPT.
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