The Philadelphia Semiconductor Index surged over 2% as NVIDIA shares jumped 3.67% on strong earnings expectations.
On Wednesday, the index rose 2.09%, closing at 4,990.82 points on the New York Stock Exchange.
NVIDIA led the rally, climbing 3.67% to end the session at $131.28.
After the closing bell, NVIDIA’s earnings report surpassed market forecasts, driving its stock up another 2% in after-hours trading.
The surge had a ripple effect across the semiconductor sector, with AMD gaining 0.75%, Intel rising 2.31%, Broadcom climbing 5.13%, Micron Technology advancing 4.82%, and Taiwan Semiconductor Manufacturing Company (TSMC) adding 2.77%.
This broad-based rally lifted the semiconductor index by more than 2%, signaling growing investor confidence in the industry’s outlook.