Nvidia soars and Intel sinks: How 14 chip stocks have performed in 2024 (so far)

As artificial intelligence takes off, so has demand for the chips powering the technology. Chipmaker Nvidia $NVDA, which recently entered the $3 trillion market cap club with Microsoft $MSFT and Apple $AAPL, has seen its stock soar this year, jumping 156.5% amid the AI boom.

See how the stocks of other U.S. chipmakers have performed so far this year.

Semiconductor pioneer Intel $INTC has seen its stock drop about 35.2% so far this year. The chipmaker received $8.5 billion in Chips Act funding in March to expand investments in chipmaking sites in Arizona, New Mexico, Ohio, and Oregon.

Semiconductor manufacturer and designer GlobalFoundries has seen its stock fall around 12.8% so far this year. GlobalFoundries received $1.5 billion in Chips Act funding in February to support manufacturing three projects.

Microchip Technology, which manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits, has seen its stock rise about 5.7% so far this year. The company received $162 million from the Chips Act to support onshoring its semiconductor supply chain.

Texas Instruments $TXN, which develops analog chips and embedded processors, has seen its stock rise about 14.9% so far this year.

Advanced Micro Devices, which develops computer processors, including for AI-enabled laptops and desktops, has seen its stock rise around 17.05% so far this year.

Analog Devices $ADI, a semiconductor company which designs and manufactures analog, mixed signal, and DSP integrated circuits, has seen it stock rise around 17.9% so far this year.

Aerospace and defense-tech company BAE Systems has seen its stock rise about 16.6% so far this year. The company received $35 million in initial funding from the Chips Act in December that is part of an ongoing investment in its modernization and research and development efforts.

Lam Research $LRCX, which supplies equipment to fabricate semiconductor wafers, has seen its stock rise about 42.1% so far this year.

KLA, which supplies the semiconductor industry with process control and yield management tools, has seen its stock rise around 47.1% so far this year.

Semiconductor designer Qualcomm $QCOM has seen its stock rise about 42.04% so far this year.

Broadcom $AVGO, which designs, develops, and manufactures semiconductors, has seen its stock rise around 47.9% so far this year.

Applied Materials $AMAT, which supplies equipment, services, and software to produce chips, has seen its stock rise about 52.9% so far this year.

Micron $MU, which produces computer memory chips, has seen its stock rise about 54.1% so far this year. Micron received $6.1 billion in Chips Act funds to build chip fabrication sites, or fabs, in central New York and Idaho.

Chip designer Nvidia $NVDA has seen its stock jump about 156.5% so far this year, boosted by demand for its AI chips which it said will be announced on a “one-year rhythm.”