AMD leads chips higher as sector digests recent earnings reports

News Snapshot:

Semiconductor stocks were largely flat on Monday, though AMD (NASDAQ:AMD) continued last week's outperformance following its first-quarter results and AI-linked news. AMD (AMD) shares gained more than 5% to trade near $95 at mid-day after it was reported last week that Microsoft (MSFT) was working with AMD (AMD) on artificial intelligence processors. Initially, it was reported that Microsoft (MSFT) was financing AMD (AMD) in its push. Nvidia (NVDA), which competes with AMD, rose 0.8%, while Intel (INTC) fell 1.3%. Separately on Monday, Intel (INTC) confirmed that it was undergoing a fresh round of layoffs, according to Oregon Live. In a...