Intel Surges 278%, AMD 171%...Will NVIDIA (NVDA) Counterattack Catch Them in the Second Half?

▲ NVIDIA (NVDA), AMD, Intel (INTC)/AI-generated image

AMD and Intel (Intel Corporation, INTC) outperformed NVIDIA (NVIDIA, NVDA) in the first half of 2026. While they surged by 171% and 278% respectively, NVIDIA's growth rate was limited to 7.2%.

According to Yahoo Finance, a financial media outlet, on July 5 (local time), investors turned their attention to stocks that had seen relatively smaller gains among the leading AI beneficiaries like NVIDIA in the first half. This is the backdrop for the triple-digit growth rates of AMD and Intel shares. Adria Cimino, a stock market analyst at Motley Fool, stated, "I expect NVIDIA to outperform its two rivals in the second half of the year."

In the early AI market, Graphics Processing Units (GPUs) played a key role in model training, driving NVIDIA's growth. In contrast, Intel and AMD have built strengths in the Central Processing Unit (CPU) market. Intel holds over 59% of the overall CPU market, while AMD's market share has risen from approximately 17% in 2016 to 38% currently.

Intel also accelerated its counterattack. Since Lip-Bu Tan took office as CEO, the company has pursued a turnaround strategy, including strengthening its competitiveness in the AI market. Last summer, the U.S. government acquired a 10% stake in Intel, valued at approximately $10 billion. Recent quarterly revenue increased by 7%, marking six consecutive quarters of revenue exceeding the company's own forecasts.

The key reason Cimino anticipates an NVIDIA counterattack in the second half is the $200 billion CPU market. NVIDIA plans to launch its first standalone CPU as part of the Vera Rubin platform this fall and also introduce a superchip for the personal computing market, combining GPU and CPU. NVIDIA projects $20 billion in standalone CPU revenue this year.

Valuation was also cited as a factor that could bolster NVIDIA. NVIDIA's forward price-to-earnings ratio is approximately 22x, which is lower than that of AMD and Intel, which surged in the first half. Cimino predicted, "NVIDIA, whose stock surge recently paused, could rally sharply in the second half and outperform AMD and Intel."

[Article Key Summary]

-AMD and Intel rose by 171% and 278% respectively in the first half of 2026, while NVIDIA's growth rate was limited to 7.2%.

-NVIDIA aims at the $200 billion CPU market, launching its first standalone CPU this fall and projecting $20 billion in related revenue this year.

-Cimino predicts that NVIDIA could outperform AMD and Intel in the second half, based on its forward price-to-earnings ratio of approximately 22x.

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