Chip Stocks including AMD, Intel, Micron and Corning Have More Than Doubled This Year

Advanced Micro Devices shares gained about 25 percent this week while Intel shares also rose about 25 percent. Micron shares jumped more than 37 percent and Corning shares climbed about 18 percent. All four companies have more than doubled in value this year.

Intel shares are up well over 200 percent this year. The stock had its best month on record in April, more than doubling, and rose 33 percent in the early days of May. S.

Devices. Intel shares climbed another 14 percent on Friday after the Wall Street Journal reported that Intel and Apple have come to an agreement for Intel to manufacture some processors for Apple devices. Representatives from Intel and Apple declined to comment on the reported manufacturing agreement.

The company posted an 8 percent gain this week. Nvidia is expected to show revenue growth of 70 percent this fiscal year. Micron blew past an $800 billion market capitalization for the first time this week.

Micron stock is up over 750 percent in the past year. CEO Sanjay Mehrotra told CNBC in March that key customers are only getting 50 percent to two-thirds of their requirements because of supply issues. The memory market is largely dominated by Micron, Samsung and SK Hynix.

Samsung and SK Hynix are in the midst of historic rallies. AMD's quarterly results this week exceeded estimates on earnings, revenue and guidance due to strong data center growth. AMD CEO Lisa Su said AMD now expects 35 percent growth over the next three to five years in the server CPU market.

In November, AMD forecasted 18 percent growth in the server CPU market. Bank of America estimates the data center CPU market could more than double from $27 billion in 2025 to $60 billion in 2030. Lisa Su told CNBC's Squawk on the Street on Wednesday that agents are really driving tremendous demand in the overall AI adoption cycle.

U.S. factories dedicated entirely to optical technologies for Nvidia. 2 billion in Corning.

Corning inked a $6 billion deal with Meta through 2030 to provide fiber-optic cables in Meta's AI data centers. Nvidia CEO Jensen Huang told CNBC's Jim Cramer on Thursday that the Corning partnership will scale up optical at a scale that no optical companies have ever enjoyed.

Wall Street analysts have described the week's moves as evidence of a broadening AI hardware investment cycle that now includes CPUs, memory and optical components alongside GPUs.

Investors appear to be pricing in sustained data center expansion that requires far more than accelerators alone.