Keep pulling the thread on Closing Bell.
The Philadelphia Semiconductor Index (SOX) closed the trading day with a 6% gain.
Intel was the top performing stock in the SOX index, the S&P 500, and the NASDAQ 100 on the day.
The Information reported that Google will rely on Intel for more than 3 million specialized AI chips in 2028.
Google has decided to use Intel to manufacture some of its tensor processing units (TPUs) after months of testing the chipmaker's technology.
Intel's stock has increased by approximately 200% year-to-date in 2026.
Apple is pursuing an AI strategy that relies on partners like Google and avoids the significant capital expenditures of its peers, according to Bloomberg Intelligence analyst Anurag Rana.
The Philadelphia Semiconductor Index (SOX) increased by as much as 7.5% during the trading day.
WTI crude oil prices increased by approximately 0.8%, with the price remaining above $91 per barrel.
Brent crude oil prices increased by approximately 1.2%, with the price remaining above $91 per barrel.
Shares of South Korean memory chip maker SK Hynix have experienced a multi-day slump.
NVIDIA CEO Jensen Huang characterized the recent market sell-off as a buying opportunity.
Wall Street strategists at UBS and Citi believe the long-term themes that drove the recent 9-to-10 week market rally remain intact.