BUZZ-Nvidia extends gain, Intel tumbles in 2024
Shares of AI chip giant Nvidia NVDA.O have surged ~178% so far this year, after more than tripling in 2023
Nvidia briefly became the world's most valuable company earlier this year and is set to add $2.15 trillion to its market valuation in 2024, putting it on track to end the year with a market cap of $3.37 trillion
Intel INTC.O is set for its worst drop in at least two decades
INTC was replaced by NVDA on the blue-chip Dow Jones Industrial Average index .DJI
Analysts expect Intel to report its first annual net loss this year since 1986
Broadcom AVGO.O is set for its highest yearly gain in at least 15 years, riding on demand for networking chips used in data centers that process artificial intelligence workloads
The Philadelphia SE Semiconductor .SOX index is set to gain ~20% this year; the market benchmark hit a record intraday high of 5,931.83 earlier this year
(Reporting by Akash Sriram in Bengaluru)
((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))
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