Chip Stocks Soar as AMD Leads the Charge with 3% Gain

Chip stocks are on the rise, with AMD and its peers continuing to attract investor attention. Advanced Micro Devices (NASDAQ:AMD) is up 3% to $637.17 in morning trading, tracking closely with the broader chip complex. The iShares Semiconductor ETF (NASDAQ:SOXX) has also seen a 3% gain to $592.69, showing the widespread buying among chipmakers.

Notably, Arm Holdings (NASDAQ:ARM) is leading the charge, jumping 8% to $314.28 - its biggest climb among major chip names. NVIDIA (NASDAQ:NVDA) is also rising, with a 2% gain to $235.03. Broadcom (NASDAQ:AVGO) rounds out the group of large chipmakers tied to artificial intelligence infrastructure buildout, gaining 3% to $353.67.

The sector-wide buying is driving the gains in AMD stock, which has seen a string of strong quarterly reports from major chipmakers. The recent acquisition of World Labs by AMD for $8.2 billion has also contributed to the company's attention-grabbing performance, with its stock up 39% over the past month.