Key Highlights
- Nvidia shares climbed 5.2% during Friday trading, elevating market capitalization beyond $5 trillion.
- Intel’s exceptional Q1 performance and robust CPU demand commentary fueled the advance.
- Intel shares jumped 20% following its third consecutive quarter beating revenue and earnings projections.
- AMD and Arm Holdings each advanced approximately 14% riding the same positive momentum.
- The Philadelphia Semiconductor Index extended its winning streak to 18 consecutive sessions.
Nvidia reached approximately $209 per share during Friday’s session, approaching its all-time intraday peak of $212.19 recorded on October 29, 2025. This valuation pushed the company’s market capitalization back above $5 trillion, establishing a $1 trillion advantage over Alphabet, which holds the second position.
The advance positioned Nvidia to potentially achieve a record closing price should the momentum sustain through the trading day.
The primary driver came from outside the company. Intel reported results Thursday evening that marked its third consecutive quarter exceeding both revenue and earnings per share expectations, propelling the stock 20% higher Friday — positioning for its own record close after a challenging period.
Intel’s CPU Demand Forecast Energizes Chip Stocks
Investors responded particularly to qualitative commentary beyond the financial metrics. CEO Lip-Bu Tan highlighted accelerating CPU demand patterns, attributed to the industry transition from inference-focused AI applications to agentic AI systems.
“A shift from inference to agentic AI is significantly increasing the need for Intel’s CPUs,” Tan said on the earnings call.
This demand signal carries implications for Nvidia as well. The company launched standalone CPU sales in early 2026, a strategic expansion CEO Jensen Huang emphasized during Nvidia’s annual user conference in March.
“We never thought we will be selling CPUs standalone, but we are selling a lot of CPUs standalone,” Huang said. “This will for sure be a multi-billion dollar business for us.”
Nvidia reached an intraday peak of $210.95 on Friday, marking its strongest level since November 2025.
The semiconductor sector broadly participated in the rally. AMD surged 14%, earning a spot among the top S&P 500 performers. Arm Holdings matched that gain with its own 14% advance.
First Quarter Weakness Gives Way to April Strength
Nvidia experienced headwinds early in 2026. The stock declined 6.4% during the first quarter ending in March.
April delivered a contrasting performance. Nvidia has appreciated 20% over the past month, benefiting from sustained semiconductor sector momentum.
The Philadelphia Semiconductor Index — the SOX — has recorded 18 consecutive winning sessions, representing one of its most extended positive runs historically. Broadcom, Taiwan Semiconductor, Micron, AMD, Intel, and Texas Instruments have each contributed gains throughout this period.
Intel’s recovery narrative provided additional support Friday. The company weathered uncertainty surrounding former CEO Pat Gelsinger’s departure, finding stability under Lip-Bu Tan’s leadership. Intel’s 18A manufacturing process node shipped on the projected timeline, securing validation from industry collaborators and U.S. government stakeholders.
Nvidia traded at $209.56 during Friday afternoon hours, representing a 4.97% daily increase.
