Nvidia soars, Intel sinks: How 14 chip stocks have performed in 2024 – Quartz
As artificial intelligence takes off, so has demand for the chips powering the technology. Chipmaker Nvidia, which recently entered the $3 trillion market cap club with Microsoft and Apple, has seen its stock soar this year, jumping 156.5% amid the AI boom. See how the stocks of other U.S. chipmakers have performed so far this year.
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Semiconductor pioneer Intel has seen its stock drop about 35.2% so far this year. The chipmaker received $8.5 billion in Chips Act funding in March to expand investments in chipmaking sites in Arizona, New Mexico, Ohio, and Oregon.
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Semiconductor manufacturer and designer GlobalFoundries has seen its stock fall around 12.8% so far this year. GlobalFoundries received $1.5 billion in Chips Act funding in February to support manufacturing three projects.
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Microchip Technology, which manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits, has seen its stock rise about 5.7% so far this year. The company received $162 million from the Chips Act to support onshoring its semiconductor supply chain.
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Texas Instruments, which develops analog chips and embedded processors, has seen its stock rise about 14.9% so far this year.
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Advanced Micro Devices, which develops computer processors, including for AI-enabled laptops and desktops, has seen its stock rise around 17.05% so far this year.
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Analog Devices, a semiconductor company which designs and manufactures analog, mixed signal, and DSP integrated circuits, has seen it stock rise around 17.9% so far this year.
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Aerospace and defense-tech company BAE Systems has seen its stock rise about 16.6% so far this year. The company received $35 million in initial funding from the Chips Act in December that is part of an ongoing investment in its modernization and research and development efforts.
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Lam Research, which supplies equipment to fabricate semiconductor wafers, has seen its stock rise about 42.1% so far this year.
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KLA, which supplies the semiconductor industry with process control and yield management tools, has seen its stock rise around 47.1% so far this year.
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Semiconductor designer Qualcomm has seen its stock rise about 42.04% so far this year.
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Broadcom, which designs, develops, and manufactures semiconductors, has seen its stock rise around 47.9% so far this year.
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Applied Materials, which supplies equipment, services, and software to produce chips, has seen its stock rise about 52.9% so far this year.
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Micron, which produces computer memory chips, has seen its stock rise about 54.1% so far this year. Micron received $6.1 billion in Chips Act funds to build chip fabrication sites, or fabs, in central New York and Idaho.
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Chip designer Nvidia has seen its stock jump about 156.5% so far this year, boosted by demand for its AI chips which it said will be announced on a “one-year rhythm.”
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