A U.S.-Iran memorandum of understanding announced Sunday is sending oil prices down more than 5% and lifting the entire AI chip complex in pre-market trading Monday. NVDA is up over 2%, AMD up more than 4%, Micron leading the group with gains of more than 8%, and Intel extending its recent run with gains over 6%. The SOXX semiconductor ETF added 8.39% Thursday alone; today's move builds on that recovery from early June's 10% single-session crash.
On June 8, Alphabet's Google placed an order for over 3 million tensor processing units with Intel, targeting 2028 delivery on Intel's 18A process node. INTC shares surged 11.2% to $110.27 on the news — a massive design win that signals TSMC capacity constraints are forcing hyperscalers to diversify chip sourcing. The deal could expand to 6 million units across 2027-2028, and Intel is holding those gains today on top of the macro tailwind.
Broadcom's fiscal Q2 (ended May 3) delivered AI chip revenue of $10.8 billion — more than double year-over-year — and total revenue of $22.2 billion, up 48%. The company guided Q3 to $29.4 billion (above the $28.5B consensus) and projected AI revenue tripling to $16 billion next quarter. Despite all that, AVGO fell roughly 15% on June 4 after CEO Hock Tan declined to raise the company's full-year $100 billion AI chip target. AVGO has been recovering, trading $377–$388 on Friday, and moves higher again today.
HPE reported fiscal Q2 results on June 1 that were its largest EPS upside surprise since February 2018: revenue of $10.7 billion, up 40% year-over-year, against a $9.8 billion estimate; EPS of $0.79 vs. $0.53 expected. Server revenue hit $5.45 billion, well above the $4.66 billion forecast, and Cloud and AI revenue came in at $7.71 billion vs. $6.87 billion expected. HPE raised its full-year EPS guidance by a full dollar and the stock surged 30% on June 1.
Oracle reported Q4 FY2026 on June 10 with EPS of $2.11 beating the $1.97 estimate, and revenue of $19.18 billion edging past forecasts. Cloud infrastructure (IaaS) revenue jumped 93% year-over-year, and its Multicloud AI Database grew 404% — Oracle's self-described "fastest growing business ever." Shares fell over 10% after Oracle disclosed plans to spend $40 billion in FY2027 capex (double prior expectations) and reported negative free cash flow of $23.7 billion for the full fiscal year.
CrowdStrike reported Q1 revenue of $1.39 billion, up 26% year-over-year, beating the $1.36 billion estimate. Net new ARR rose 32% to a record $256 million; free cash flow hit $468 million. The company also authorized a 4-for-1 stock split effective July 2, with a record date of June 25. Shares slid about 8% after hours on profit-taking after CRWD had surged roughly 60% in the prior month. The stock is still up 42% year to date.
Micron Technology is the standout pre-market mover Monday, up more than 8% as investors position ahead of the company's fiscal Q3 earnings report on June 24. Demand for high-bandwidth memory powering AI accelerators has been running hot all year. Wolfe Research carries a $1,250 price target on the stock, and the consensus rating is a strong Buy. Analyst notes broadly expect HBM volumes and pricing to deliver a blowout quarter.
AMD locked in a 6-gigawatt AI infrastructure deal with Meta Platforms, deploying custom Instinct MI450 GPUs optimized for Meta's workloads at gigawatt scale across multiple chip generations. The agreement directly challenges NVIDIA's stranglehold on AI GPU supply and positions AMD as a genuine hyperscaler alternative. AMD shares are up more than 4% Monday morning, adding to a year-to-date gain that exceeded 130% through early June.
SoundHound AI reported record Q1 revenue of $44.2 million, up 52% year-over-year, and in April announced a deal to acquire LivePerson for approximately $43 million — pairing its voice AI platform with LivePerson's one-billion-messages-per-month digital engagement network. The company launched its OASYS self-learning agentic AI platform this quarter, and on June 12 topped ISG's conversational AI rankings. Shares are trading around $7 Monday morning against an analyst consensus target near $12.75.
Nvidia CEO Jensen Huang took the Computex stage in early June to unveil new AI chips for laptops and consumer PCs, declaring alongside Microsoft that the two companies are going to "reinvent the PC." The move targets a market well beyond the data centers that built Nvidia's dominance. NVDA trades around $205, roughly 13% below its May 14 all-time high of $235.47, and the peace-deal tailwind is adding more than 2% in pre-market. Analyst consensus price target is $298.87 with 51 buy ratings and zero sells.
