Chipmakers post longest win streak since 2017 amid AI growth

Shares of chipmakers rose on Tuesday as the group posted its longest winning streak in almost eight years.

The Philadelphia Stock Exchange Semiconductor Index rose 0.3 per cent in its ninth straight positive session, its longest such streak since 2017. The gauge has jumped 8.7 per cent over the period and is now up 22 per cent this year, beating the Nasdaq 100 Index’s almost 16 per cent gain.

Among notable movers, ON Semiconductor jumped 3 per cent, Intel rose 2 per cent and Applied Materials added 1.5 per cent. Nvidia, the leader in AI chips, fell 1.6 per cent, though it remains up more than 30 per cent this year. Broadcom sank 1.1 per cent but is still up 55 per cent in 2025.

“Everything we see happening with the AI buildout and tech overall, it’s all powered by semiconductors,” said Wayne Kaufman, chief market analyst at Phoenix Financial Services.

Oracle’s recent earnings report and the AI infrastructure deal between Microsoft and Nebius Group are bullish signs for the group, he added.

“Companies are making big orders going way out into the future, which points to them feeling that they’re way behind in the capacity that they’re going to need for AI,” Kaufman said. “That means the really in semiconductors looks very sustainable, with Nvidia and Taiwan Semi the big winners, even if some names might get overbought in the short term.”