Nvidia (NASDAQ: NVDA) stock jumped 4.9% through noon ET Friday. Strange as it sounds, this was all because of Intel (NASDAQ: INTC)! Intel blew past analyst forecasts for $0.01 in pro forma earnings last night,

The good news for Nvidia investors is that it continues to grow rapidly even as rivals have been landing lucrative contracts with hyperscalers and AI companies. AI chips from AMD,

Interestingly, it was Nvidia that replaced Intel in the Dow Jones Industrial Average in November 2024 following the latter's underperformance for years. Since that change, Intel’s shares have risen about 260%, while Nvidia has gained around 50%.

Intel stock hit new all-time highs for the first time since 2000, surging 85% in 18 months on AI chip demand and its 18A manufacturing breakthrough.

Intel reported a big first quarter of revenue led by fresh AI demand for its CPUs. The company also delivered a big forecast for the current quarter.

Wall Street’s view on Intel (NASDAQ:INTC | INTC Price Prediction) stock leaned bullish this morning. Citi upgraded Intel to Buy from Neutral with a $95 price target, up from $48, while Evercore ISI’s Mark Lipacis moved to Outperform from In Line with a $111 target,

Nvidia (NASDAQ:NVDA) shares rose 5% Friday following strong earnings from Intel that lifted the broader semiconductor sector.

Nvidia stock rallied Friday, boosted by Intel's upbeat quarterly report and ahead of much-anticipated reports from AI giants.