Intel rose 5.3% and AMD gained 3.8% in Wednesday premarket trading, leading a rebound in chip shares after Tuesday’s pullback interrupted an early-week surge.
The iShares Semiconductor ETF added 3% and Broadcom climbed 2.3% as investors bet a U.S.-Iran peace deal could ease Middle East risks and reopen the Strait of Hormuz on Friday.
Nvidia rose a milder 0.5% as traders also looked ahead to the Fed’s 2 p.m. ET decision, with economists expecting rates to stay at 3.50%-3.75%.
Retail sentiment stayed bearish on Intel, AMD and Broadcom, and SOXX flipped to bearish, underscoring doubts about whether the sector’s gains can hold after huge 2026 runs.
ARK Investment sold 23,844 AMD shares worth $13 million on Tuesday and has unloaded more than $250 million since early May, even as Intel and Arm have each climbed over 200% this year.