Philadelphia Semiconductor Index rises 3% intraday; AMD up 5.43%, Intel 3.56%

The dispersion within the rally is the more telling detail: AMD and Broadcom lead while Nvidia, the sector's bellwether, lags at the bottom of the pack. That gap suggests this move is being driven by rotation or stock-specific positioning rather than a uniform repricing of AI demand. Whether the laggards catch up — or the leaders give back their gains — is the open question for gauging if this is broad conviction or a narrow bounce.