Chip Stocks Rebound, But for How Long? The Philadelphia Semiconductor index (^SOX) surged 2. 6% by midday on Monday, with AMD (AMD) and Google (GOOG, GOOGL) shares leading the charge.
The news driving these gains is AMD's signing of a deal with Microsoft to deploy its Helios rackscale AI computing platform.
The agreement marks a significant milestone for AMD, which has long struggled to compete with Nvidia in the market.