Intel Stock Surges & Leads Chip Sector In Valuation Gains After Fed Chair Hints At Rate Cut

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Chipmaker Intel Corporation's stock led the semiconductor sector after Federal Reserve Chairman Jerome Powell indicated that conditions were softening for potential interest rate cuts. The rise in Intel's shares came after a disappointing couple of days as investors struggled to reconcile equity investments in the firm with potential equity dilution and continued analyst pessimism about the firm. Joining Intel were other chip designers such as Qualcomm, AMD and Broadcom, all of whose shares jumped by more than 2% while NVIDIA struggled as reports continued to assert that the Chinese government was discouraging local firms from buying its H20 GPUs.

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