Chip Stocks Need More Than AI Hype to Sustain Recent Gains

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Semiconductor stocks have rallied sharply this year as the sector is swept in the artificial intelligence (AI) frenzy. Despite falling chip sales, some chip-related stocks are climbing on hopes of future sales related to AI. The biggest benefactor of the AI frenzy is Nvidia (NVDA), whose shares are up +89% this year. Also, Advanced Micro Devices (AMD), the only real rival to Nvidia as a maker of graphic chips used in AI applications, is up more than +34%. Advanced Micro Devices rallied more than +5% Thursday after Microsoft (MSFT) said it was helping finance AMD’s expansion into AI processors….

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