Nvidia, TSMC, And AMD Surge As Trump's Mega Chip Push Leaves Intel Behind

July 02, 2025 02:13 PM PDT | By EODHD

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Nvidia, TSMC, And AMD Surge As Trump's Mega Chip Push Leaves Intel Behind — Image source: Kalkine Media

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July 2 - Chip makers rallied on Wednesday after the Senate approved boosting investment tax credits for U.S. semiconductor facilities to 35% from 25%. Intel (NASDAQ:INTC) shares slid about 3% following news its CEO may halt marketing of 18A technology to external clients, while Taiwan Semiconductor Manufacturing (NYSE:TSM) climbed about 3%. Micron Technology (NASDAQ:MU) added roughly 1%, and GlobalFoundries (NASDAQ:GFS) held steady. Warning! GuruFocus has detected 4 Warning Signs with NVDA.

AI chip leaders also gained: Nvidia (NASDAQ:NVDA) surged about 3%, Advanced Micro Devices (AMD) rose around 2%, Broadcom (AVGO) edged up nearly 2%, and Qualcomm (QCOM) inched higher by about 1%. Smaller players saw similar moves. Lattice Semiconductor (LSCC) and Marvell Technology (MRVL) each jumped about 3%, Texas Instruments (TXN) rose 2%, and Analog Devices (ADI) added 1%. Equipment suppliers Applied Materials (NASDAQ:AMAT) and KLA (KLAC) climbed about 2% apiece, while ASML (ASML) and Lam Research (LRCX) were up about 1% each. The expanded credits build on the Biden administration's CHIPS and Science Act incentives.

House lawmakers now aim to send the bill to President Trump by the July 4 deadline. Investors will watch whether the enhanced subsidies spur fresh U.S. chip plant announcements. This article first appeared on GuruFocus. View Comments

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