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A record rally in semiconductor stocks drove $2 trillion in combined market-value gains at Micron Technology, Intel and AMD during the second quarter, as Wall Street rotated into artificial intelligence chip suppliers beyond Nvidia.
The surge marked the broadest AI-linked repricing yet among major chipmakers, extending a theme that had previously been concentrated in a single name.
The Trade: AI Flows Move Down the Supply Chain Wall Street's second-quarter positioning reflected a clear shift in conviction: the artificial intelligence buildout was no longer a one-stock story.
Investors poured capital into Micron, Intel and AMD — three chipmakers that had been largely passed over as Nvidia dominated AI-hardware spending — betting that demand would eventually widen across the semiconductor supply chain.
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