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Stock Track | VanEck Semiconductor ETF Soars 5% Intraday on Intel's Strong Earnings and AI-Driven Semiconductor Rally

Stock Track04-24

The VanEck Semiconductor ETF (SMH) surged 5.00% during intraday trading on Friday, reflecting a powerful rally across the semiconductor sector.

The move was primarily fueled by Intel's better-than-expected first-quarter earnings report and its forecast for strong artificial intelligence-linked demand. Intel's results and optimistic outlook provided a significant boost to the broader chip sector, contributing to the ETF's sharp gain.

Analysts note the semiconductor sector is experiencing a historic rally driven by the AI narrative, with the Philadelphia Semiconductor Index recently achieving a record winning streak. The surge is also attributed to a structural increase in demand for computing power, as a severe GPU shortage highlights robust needs for AI infrastructure, further supporting semiconductor company prospects.

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