NVIDIA shares dipped more than 1%, but Intel Corporation’s 7% surge helped the semiconductor index close with a modest gain.
On Wednesday, the semiconductor index increased 0.21% to 5,090.79 points on Wall Street.
NVIDIA ended the session down 1.25% at $131.14.
The pullback appears to be a correction after a sharp rally.
After the DeepSeek shock, NVIDIA’s stock had been in freefall due to fears of weakening demand for AI chips.
However, it rebounded sharply after major tech firms reported significantly increased AI budgets in their latest earnings calls.
Despite two straight days of losses, NVIDIA remains up 5% over the past five trading sessions, signaling an ongoing correction after its rapid climb.
While NVIDIA slipped, rival AMD gained 0.56%. Intel Corporation outperformed both, surging 7.20% to close at $22.48.
This follows Intel’s 6.07% jump the previous day.
The rally was fueled by U.S. Vice President JD Vance’s speech at an AI summit in Paris, in which he pledged that the Trump administration would ensure that the world’s most powerful AI systems are built using American-designed and manufactured chips to safeguard U.S. interests.
Unlike most U.S. chip companies, including NVIDIA, which design semiconductors but outsource production to Taiwan’s TSMC, Intel manufactures its own chips.
Vance’s remarks fueled expectations that Intel would be the biggest beneficiary, sending its stock higher.
The momentum from his comments appears to have carried over for a second day, lifting Intel’s shares.
Despite the recent rally, Intel’s stock remains down about 49% over the past year.
Other semiconductor stocks had mixed results. Qualcomm slipped 0.99%, while Broadcom edged up 0.56%.
Despite NVIDIA’s decline, Intel’s strong performance helped the semiconductor index end in positive territory.