TLDR
- Nvidia stock rose as much as 5.2% on Friday, pushing its market cap above $5 trillion.
- The rally was driven by Intel’s blowout Q1 earnings and strong CPU demand commentary.
- Intel stock surged 20% after its third consecutive beat on revenue and EPS estimates.
- AMD and Arm Holdings each gained around 14% on the same Intel-driven momentum.
- The Philadelphia Semiconductor Index is on an 18-day winning streak.
Nvidia was trading around $209 per share on Friday, just shy of its all-time intraday high of $212.19 set on October 29, 2025. At that price, the company’s market cap crossed $5 trillion again, making it worth $1 trillion more than second-place Alphabet.
The move puts Nvidia on track for a record closing high if gains hold through the session.
The catalyst wasn’t Nvidia’s own news. It was Intel. After a rough couple of years, Intel delivered its third straight beat on both revenue and EPS Thursday night, and the stock jumped 20% Friday — heading for its own record close.
Intel’s CPU Outlook Sends Ripples Across the Sector
What caught investors’ attention wasn’t just the numbers. CEO Lip-Bu Tan flagged that demand for CPUs is rising fast, driven by the shift from inference-based AI to agentic AI workflows.
“A shift from inference to agentic AI is significantly increasing the need for Intel’s CPUs,” Tan said on the earnings call.
That demand signal matters for Nvidia too. The company started selling standalone CPUs at the start of 2026, a move CEO Jensen Huang called out at Nvidia’s annual user conference in March.
“We never thought we will be selling CPUs standalone, but we are selling a lot of CPUs standalone,” Huang said. “This will for sure be a multi-billion dollar business for us.”
Nvidia’s stock hit an intraday high of $210.95 on Friday, its highest point since November 2025.
The broader chip sector rode the same wave. AMD gained 14% and became one of the biggest winners in the S&P 500. Arm Holdings also climbed 14%.
A Rough Start to 2026, Then a Sharp Reversal
Nvidia didn’t have an easy first quarter. The stock was down 6.4% through the end of March.
April has been a different story. Over the past month, Nvidia has gained 20%, helped by a sustained run in semiconductor stocks.
The Philadelphia Semiconductor Index — known as the SOX — is on an 18-day winning streak, one of its longest runs on record. Broadcom, Taiwan Semiconductor, Micron, AMD, Intel, and Texas Instruments have all added value during that stretch.
Intel’s own turnaround story added fuel Friday. The company had faced pressure over the exit of former CEO Pat Gelsinger, but the appointment of Lip-Bu Tan steadied the ship. Intel’s 18A manufacturing process node has been delivered on schedule, winning confidence from both industry partners and the U.S. government.
Nvidia shares traded at $209.56 as of Friday afternoon, up 4.97% on the day.
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